China seven-month foreign direct investment grows to US$78.8b

Business | 13 Aug 2019 2:25 pm

Foreign direct investment  into the Chinese mainland grew by 7.3 percent year-on-year to 533.14 billion yuan from January to July, the Ministry of Commerce announced today.

In U.S. dollar terms, FDI inflow grew by 3.6 percent year-on-year to US$78.8 billion.

FDI in July alone reached 54.82 billion yuan, up 8.7 percent on year.

During the past seven months, a total of 24,050 new foreign-funded enterprises were founded.

Investment in high-tech industries climbed by 43.1 percent on-year to account for 29.3 percent of the total FDI, among which the high-tech service sector received 97.39 billion yuan, up 63.2 percent.

FDI into  pilot free trade zones grew by 14.6 percent year-on-year, accounting for 14.2 percent of the total.

Western China registered the fastest growth of FDI compared with other regions, with the figure up 25.2 percent year-on-year to reach 39.94 billion yuan.

Foreign investment from Germany and South Korea climbed quickly in the first seven months, posting growth of 72.4 percent and 69.7 percent year-on-year, respectively.

FDI from the European Union grew by 18.3 percent compared with the same period last year.

FDI from countries participating in the Belt and Road Initiative grew by 5 percent in the first seven months of 2019.

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