CHINA Foreign investment into China grows in January

CHINA

Foreign investment into China grows in January

CGTN

05:21, February 15, 2018

The actual use of foreign investment in China reached 80.36 billion yuan (12.67 billion US dollars) in January, up 0.3 percent year-on-year, the Ministry of Commerce (MOC) said in an online statement on Wedneaday. 

According to the MOC, foreign companies newly established in January surged by 158 percent year-on-year to 5,197, a new high since September 2015.

Foreign investment to the high-tech sector continued to grow, rising 42.3 percent year-on-year and accounting for 21.5 percent of the total, up 6.3 percentage points from a year earlier.

Some 9.95 billion yuan flowed into the high-tech manufacturing industry, a sharp increase of 93.5 percent year on year, with electronics and communications equipment surging by 75 percent compared with the same period last year.

The high-tech service industry drew 7.35 billion yuan, up 4.8 percent year-on-year. Foreign investment in R&D and design, and information services rose 57.6 percent and 17.1 percent, respectively.

Foreign investment into western China registered rapid growth in January, with total volume up 56.4 percent year on year to hit 4.56 billion yuan, MOC data showed.

The 11 free trade zones drew a total of 8.38 billion yuan, up 55.2 percent year-on-year, with 593 foreign enterprises newly founded, much higher than the national average.

Investment from Singapore and the United States climbed quickly last month, posting growth of 56.6 percent and 52.2 percent year-on-year, respectively.

As the business environment continues to improve, China is set to attract steady foreign investment inflows by opening up and easing market access.

"We will also substantially open up the service sector, especially the financial sector, and create a more attractive investment environment," Liu He, deputy head of the National Development and Reform Commission (NDRC), said at the World Economic Forum in Davos, Switzerland.

Foreign investment is expected to keep steady in 2018, despite slow growth and an uncertain world economy, MOC official Tang Wenhong said earlier.


Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue