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Foreign investment into China's manufacturing industry surges

Updated: Feb 26, 2024 By Zhong Nan Print
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A view of the Huangpu River in Shanghai. [Photo/VCG]

Foreign direct investment into China's manufacturing industry soared by 20.5 percent year-on-year to 33.11 billion yuan ($4.6 billion) in January of 2024, while that of high-tech manufacturing jumped 40.6 percent on a yearly basis, data from the Ministry of Commerce showed.

In the meantime, high-tech industries attracted 39.16 billion yuan in FDI, representing 34.7 percent of the total FDI utilized in China, said the ministry in a statement on Friday.

China saw the number of newly established foreign-invested enterprises reach 4,588 in January, a year-on-year increase of 74.4 percent.

According to the Ministry of Commerce, FDI into the country in terms of actual use dropped 11.7 percent year-on-year to 112.71 billion yuan last month. However, China experienced a month-on-month growth rate of 20.4 percent in this field in January.

In terms of source countries, driven by large projects and other factors such as the base effect, investment growth from France and Sweden reached 25 times and 11 times, respectively in January. Meanwhile, FDI from Germany, Australia and Singapore into China surged by 211.8 percent, 186.1 percent and also by 77.1 percent, respectively.

With China continuing to promote high-quality economic development, foreign investment in the country is also undergoing continuous transformation and upgrading, said the head of the Commerce Ministry's department of foreign investment administration in another statement on Friday.

In terms of country of origin, investment from some developed economies is growing rapidly, with foreign investors remaining actively engaged in investing in China, said the official.

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