China’s Q1 FDI soars as it continues to attract foreign investors
Apr 16, 2021 (China Knowledge) - China’s Ministry of Commerce said yesterday that foreign direct investment (FDI) in the first quarter of this year has seen a substantial increase with FDI into the China mainland surging 39.9% YoY in actual use to RMB 302.47 bln.
The FDI volume has surpassed the pre-epidemic level, rising 24.8% from the same period in 2019.
The nearly 40% growth accelerated from a 31.5% expansion registered in the first two months, sustaining the previous upward momentum of China's cross-border investment.
The structure of China's foreign investment also continues to improve. Foreign investment in the services industry came in at RMB 237.79 bln in the Q1, up 51.5% from a year ago, and foreign investment in the high-tech services sector climbed 43.9%.
During the same period, investment from the ASEAN expanded 60% YoY, and investment from countries along the Belt and Road and the European Union rose 58.2% and 7.5%, respectively.
Thursday's data also shows that 10,263 new foreign-funded enterprises were established in China in the Q1, up 47.8% YoY.
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