China’s foreign investment up in first nine months

China’s inbound foreign investment rose 2.5% to US$103.26 billion in the first three quarters from the same period of last year, according to the Statistical Bulletin of China’s Foreign Direct Investment (FDI) 2020 released by the Ministry of Commerce (MoC) at the ongoing third China International Import Expo.

In the face of the huge impact of Covid-19 and the increasingly complicated domestic and international environment, China has taken measures to stabilize foreign investment in the country, said MOC official Zong Changqing.

The attractiveness of China’s vast market to foreign investment has not changed, and the expectations and confidence that foreign investors have in long-term investment and operations in China have not changed, Zong said.

From 2016 to 2019, the country’s total inbound foreign investment was $549.6 billion, with an average annual growth of 1%. In the 2016-2020 period, the figure is expected to reach US$690 billion.

China has been the world’s second-largest foreign direct investment destination for three consecutive years as of 2017, according to the bulletin.

Amid a sharp contraction in global cross-border capital flows in recent years, the proportion of China’s FDI in the global FDI increased from 6.6% in 2015 to 9.2% in 2019, and is expected to rise this year, it added.

Source: AsiaTimes (