JINAN, June 20 (Xinhua) -- Although the global supply chain has entered a new round of reconstruction, China is still an important investment destination for multinational companies around the world, said a report.
Most foreign manufacturing businesses in China still see China as a major investment destination with investment confidence continuously rising, it said.
Against the backdrop of contraction in transnational investment in manufacturing in recent years, China has constantly attracted multinationals' investments in the manufacturing sector due to its huge market and complete supply chain, said the report.
China's manufacturing sector used 33.73 billion U.S. dollars of foreign investment in 2021, up 8.8 percent year on year. The growth was 1.1 percentage points higher than that for the global manufacturing sector.
Multinational manufacturing companies have been moving up the value chain in their China investments over recent years.
China's high-tech manufacturing sector actually used 12.06 billion U.S. dollars of foreign investment in 2021, up from 9.89 billion U.S. dollars in 2017. Its proportion in the whole manufacturing sector rose by 6.3 percentage points to 35.8 percent, according to the report.