BEIJING, Nov. 13 (Xinhua) -- Guizhou, Heilongjiang and other provinces in China have released the economic data of the third quarter recently, showing that investment in manufacturing industry grew fast.
Data shows that the country's on-going supply-side reforms have yielded results, and manufacturing investment confidence has continued to recover. Industry insiders believe that the trend is expected to continue.
According to Guizhou Provincial Development and Reform Commission, the province's investment growth rate in the first three quarters is still on top in the country.
Data shows that the investment in equipment manufacturing industry in Guizhou increased by 25.5 percent in the first three quarters. Investment in information transmission, software and information technology services related to big data increased by 53 percent, while investment in eco-environment industry related to large ecology increased by 30.7 percent.
Likewise, Heilongjiang Province saw continuous growth in the manufacturing investment. The province's high-tech industry investment continued to grow in the first three quarters, with high-tech manufacturing investment increasing by 4.2 percent and high-tech service investment increasing by 5.2 percent.
It is worth noting that the foreign-invested manufacturing is recovering in Guangzhou. A total of 113 new foreign-invested enterprises in the manufacturing industry were established in Guangzhou in the first three quarters of this year, an increase of 52.7 percent year on year, and the actual use of foreign capital in the city's manufacturing industry increased by more than 200 percent year on year.
478 foreign-invested enterprises in Guangzhou, including well-known enterprises such as GAC Toyota, Shell and Hitachi Elevators, increased their capital from January to September this year, up 68.9 percent year on year, and the total contracted foreign investment was 4.55 billion U.S. dollars.
Foreign investment in manufacturing enterprises is of vital importance to the rapid and high-quality development of manufacturing industry in Guangzhou. In addition, the increased capital and shares by the foreign investors in joint ventures fully demonstrated the growing confidence of foreign companies in investing in the Chinese market, said an official from Guangzhou Municipal Commission of Commerce. (Edited by Wu Shuang, wushuang2018@xinhua.org)
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