China’s Ministry of Commerce (MOFCOM) said at a press conference on July 14 that China used 607.8 billion yuan (US$93.8b) of real foreign capital between January and June (excluding those in banking, insurance and security fields), 28.7 percent more than that in the same period of 2020, and 27.1 percent more than that in the same period of 2019.
Foreign investment in the first half year mainly came from countries along the Belt and Road Initiative, the Association of Southeast Asian Nations (ASEAN) and the European Union, whose investment grew by 49.6 percent, 50.7 percent and 10.3 percent.
The increased investment came with the growth in foreign enterprises. In the first half, 23,000 new foreign enterprises were established in China, 47.9 percent more than in the same period of 2020. China is home to 1.06 million foreign enterprises.
MOFCOM indicated a better structure of the use of foreign capital, revealing that the manufacturing industry used 9.9 percent more foreign capital in the first half year, the biggest growth in the past 10 years, and the service industry used 33.4 percent more, with that for scientific research and technical services growing by 59.5 percent.
Old Version
