BEIJING, July 7 (Xinhua) -- PepsiCo bought Chinese snack food brand Be & Cheery for 700 million U.S. dollars and Volkswagen announced it would increase its stake in JAC Volkswagen to 75 percent and acquire 26 percent of Gotion High-tech...foreign investors maintain enthusiasm for investing in Chinese enterprises despite the impact of the COVID-19 pandemic.
According to a new report by Baker & McKenzie and Rhodium Group, the value of mergers and acquisitions carried out by foreign investors targeting Chinese companies totaled 9 billion dollars in the first five months of this year, outpacing Chinese outbound M&A for the first time in a decade.
Against the backdrop of global cross-border investment, China's total foreign investment including M&A investment reached 355.18 billion yuan in the first five months of this year, with the overall decline narrowing to 3.8 percent.
The growth of foreign investment in April and May turned from negative to positive. In April, the growth rate of foreign investment to China was as high as 11.8 percenton a year-on-year basis, and the figure was 7.5 percent in May.
"Following the introduction of the master plan of the construction of Hainan Free Trade Port, investment consultation of foreign investors has greatly increased, and it is also good news that foreign investment are flowing into western China," said Cui Fan, a professor at the School of International Trade and Economics of University of International Business and Economics.
Meanwhile, it's learned that China's Ministry of Commerce is working closely with relevant authorities to formulate new measures to stabilize foreign investment. (Edited by Yang Qi with Xinhua Silk Road, kateqiyang@xinhua.org)
A single purchase
