Led by services sector, FDI jumps nearly 40% in Q1
CHINA remains a popular destination for overseas investors, with foreign direct investment logging a substantial increase in the first quarter.
FDI into the Chinese mainland surged 39.9 percent year on year in actual use to 302.47 billion yuan (US$46.37 billion) in the first quarter, the Ministry of Commerce said yesterday. The volume has surpassed the pre-epidemic level, rising 24.8 percent from the same period in 2019.
In US dollar terms, the first-quarter FDI inflow jumped 43.8 percent year on year to US$44.86 billion. The nearly 40 percent growth accelerated from a 31.5 percent expansion registered in the first two months, sustaining the previous upward momentum of cross-border investment.
The structure of China’s foreign investment continued to improve. Foreign investment in the services industry came in at 237.79 billion yuan in the first quarter, up 51.5 percent from a year ago, and foreign investment in the high-tech services sector climbed 43.9 percent.
Investment from the Association of Southeast Asian Nations expanded 60 percent year on year, and investment from countries along the Belt and Road and the European Union respectively rose 58.2 percent and 7.5 percent.
The data also shows that 10,263 new foreign-funded enterprises were established in China in the first quarter, up 47.8 percent year on year.
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