China’s foreign investment growth stable from Jan-July

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01:08

The number of enterprises set up in China by international investors from January to July this year almost doubled compared with the same period last year, showing strong investor confidence, according to data released by the Ministry of Commerce on Thursday.

Foreign investors set up 35,239 enterprises in China in the first seven months of the year, jumping 99.1 percent year-on-year, MOFCOM said.

In the first seven months, utilized foreign investment reached 496.71 billion yuan (76.07 billion US dollars) with 2.3 percent year-on-year growth, according to MOFCOM.

The hi-tech manufacturing sector grew quickly with further structural optimization. Utilized foreign investment in the sector was up 7.5 percent compared with the same period last year, and accounted for 21.5 percent of all utilized foreign investment in Chinese manufacturing.

China’s 11 free trade zones played a leading role in attracting foreign money, with 5,186 enterprises set up by international investors from January to July, and 65.84 billion yuan (9.56 billion US dollars) invested, up 30 percent year-on-year.

Foreign investors also focused more on western China, investing 31.91 billion yuan (4.63 billion US dollars) in the same period, representing growth of 14.5 percent year-on-year.

In the first seven months, investment from the Association of Southeast Asian Nations and countries along the Belt and Road route increased by 27.7 percent and 29.8 percent respectively, official data showed.