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Economy

China's high-tech service sector sees double growth in FDI in Jan.

February 15, 2019


Abstract : The foreign direct investment (FDI) attracted by China's high-tech service sector reached 15.77 billion yuan in January with a robust growth of 113.4 percent year on year, the Ministry of Commerce (MOC) announced Thursday.

BEIJING, Feb. 15 (Xinhua) -- The amount of foreign direct investment (FDI) flowing into China's high-tech service sector reached 15.77 billion yuan in January with a robust growth of 113.4 percent year on year, the Ministry of Commerce (MOC) announced Thursday.

Among them, FDI in information service, research, development and design service, and scientific and technological achievements transformation service increased 168.6 percent, 35.8 percent and 62.9 percent respectively.

MOC data showed that FDI in the Chinese mainland reached 84.18 billion yuan (about 12.41 billion U.S. dollars) in January, with an increase of 4.8 percent. And a total of 4,646 new foreign-invested enterprises were established in the first month of 2019, down 10.6 percent year on year. 

In terms of investment source, FDI from the United States increased by 124.6 percent, that from the Netherlands by 95.6 per cent, the United Kingdom by 13.7 percent and Hong Kong by 6.5 percent. Investment from countries along the Belt and Road routes, ASEAN and EU increased by 10.1 percent,2.7 percent and 22.5 percent respectively.

The growth is attributed mainly to China's efforts in opening up in 2018, including promotion of new foreign investment law and fully implementation of the negative list of market access for foreign capital, said Gao Feng, spokesperson of Ministry of Commerce (MOC).

Gao added that China has launched amending of the catalogue of foreign investment industry to widen scope for foreign investment and it is collecting public opinions on the guiding policy.  (Edited by Wu Shuang, Tong Wei; wushuang2018@xinhua.org, tongwei@xinhua.org)

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Keyword: China-economy FDI

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