Foreign direct investment rise shows ‘no such thing’ as a large number of foreign firms pulling out of China
- Investment in China by overseas investors rose to US$70.4 billion in the first half of 2019, 3.5 per cent higher than a year earlier
- In yuan terms, foreign direct investment rose 7.2 per cent to 478.3 billion yuan in the first six months of 2019, the same growth rate as in the first five months
Foreign direct investment in China rose to US$70.4 billion in the first half of 2019, 3.5 per cent higher than a year earlier, showing “there’s no such thing that a large numbers foreign investors are pulling out of China”, the Ministry of Commerce said on Thursday.
In yuan terms, foreign direct investment rose 7.2 per cent to 478.3 billion yuan in the first six months of 2019, the same growth rate as in the first five months.
In June, foreign direct investment rose 3 per cent from a year earlier to US$16.1 billion. In yuan terms, foreign direct investment rose 8.5 per cent to 109.3 billion yuan, the same growth rate as in May.
The data shows “there’s no such thing that a large numbers foreign investors are pulling out of China”, Ministry of Commerce spokesman Gao Feng said, repeating the government’s vow to improve the domestic business environment for investors while also protecting their interests.
In the first six months of 2019, foreign investors set up 20,131 new businesses in China, according to the Ministry of Commerce.
In major regions, investment from Hong Kong rose 4.8 per cent in yuan terms in the first half of 2019, while investment from South Korea rose 63.8 per cent, Japan by 13.1 per cent and Germany by 81.3 per cent.
Hi-tech foreign investment rose 44.3 per cent from a year earlier, accounting for 28.8 per cent of the total. Actually utilised foreign hi-tech manufacturing investment grew 13.4 per cent to 50.28 billion yuan.
