China Attracts More Than 111 Billion Yuan in Foreign Investment in January; High-Tech Manufacturing Sees a 40% Increase
Economic Daily, Beijing, February 24 (Reporter Feng Qiyu) – The Ministry of Commerce has reported that in January, China saw a significant influx of foreign investment, with a total of 4,588 newly established foreign-invested enterprises in the country, marking a year-on-year increase of 74.4%. The actual amount of foreign capital used reached 112.71 billion yuan, showing a year-on-year decrease of 11.7% but a month-on-month increase of 20.4%.
The Foreign Investment Department of the Ministry of Commerce stated that despite the year-on-year decline in foreign investment compared to January 2023, the overall investment situation in January 2024 continued the trend of fluctuating scale and structural optimization observed last year.
Of note is the significant increase in investment in high-tech manufacturing, which saw a rise of approximately 40.6% in January. The medical equipment and instrumentation manufacturing industry, in particular, experienced a staggering 558.8% increase, showcasing the ongoing trend of industrial structure optimization and recovery growth in the manufacturing industry.
Moreover, investment from some developed economies such as France, Sweden, Germany, Australia, and Singapore has shown a rapid growth trend, with some countries experiencing substantial increases of up to 211.8%.
To further facilitate foreign investment and address any difficulties encountered by foreign-invested enterprises, the Ministry of Commerce has established a roundtable system and held regular meetings to address issues and complaints raised by foreign investors. As of January, more than 300 issues and complaints have been resolved through these meetings.
Looking ahead, the Ministry of Commerce plans to continue building the “Invest in China” brand and increase promotion efforts to attract more foreign investment. Additionally, the ministry will deepen communication with foreign-invested enterprises through the roundtable and complaint processing system to provide support and solutions for any challenges faced by foreign investors in China.