Foreign direct investment (FDI) into the Chinese mainland, in actual use, surged 39.9 percent year on year to 302.5 billion yuan ($46.3 billion) in the first quarter of this year, fending off disruptions in global supply chains amid COVID-19, the Chinese Ministry of Commerce (MOFCOM) said on Thursday. 

In the first quarter, the FDI in service and hi-tech industries rose 51.5 percent and 31.2 percent, respectively, year on year, MOFCOM spokesperson Gao Feng said during a press conference.

Investment from countries along the Belt and Road and ASEAN countries increased 58.2 percent and 60 percent, respectively, year on year during the period, Gao said.

Meanwhile, China established 10,263 new enterprises with foreign investment in the first quarter of the year, a year-on-year growth of 47.8 percent, Gao said.

China-U.S. trade registers fast growth in Q1

Gao said China's exports to the U.S. rose 62.7 percent year on year in the first quarter, and its imports from the U.S. rose 57.9 percent year on year. 

Imports of energy, agricultural products, vehicles and auto parts are among sectors in rapid growth, Gao said.

In March alone, China's exports to the U.S. rose 41.6 percent, and its imports from the country surged 61.8 percent. It is mainly attributed to the steady recovery of the two countries' economies and cooperation, as well as the low base effect caused by the coronavirus last year, Gao said.

E-commerce sector should abide by regulations

As for the 18 billion yuan ($2.8 billion) fine on Alibaba for monopoly practices, Gao said the e-commerce sector should attach equal importance to both development and regulations.

The ministry supports the innovation development and healthy competition of enterprises. It will also remain committed to creating a fair and equal market environment for enterprises to enhance the sustainable development of the industry, Gao said.