BEIJING, Nov. 17 (Xinhua) -- Foreign direct investment (FDI) into the Chinese mainland, in actual use, expanded 18.3 percent year on year to 81.87 billion yuan in October, the Ministry of Commerce (MOC) said Monday.
This marked the 7th consecutive month for the country to see positive growth in FDI. In the first ten months, FDI growth was 6.4 percent year on year, quickening from the 5.2-percent gain seen in the first three quarters, the MOC data showed.
Behind the positive data is the gradual implementation of foreign-funded projects. East China's Zhejiang Province signed 17 major foreign-funded projects with a total investment of 5.6 billion U.S. dollars during the third China International Import Expo (CIIE). Those projects covered a wide range of areas including smart manufacturing, 5G communications, new materials, new energy and environmental protection equipment.
"After the outbreak of the COVID-19 pandemic this year, China has introduced a series of policies to help companies resume work and production, and become an important force in maintaining the stability of global supply chain. Against the backdrop of a slowdown in global FDI, China's FDI inflow has continued to increase, with a large number of projects in the fields of medicine, automobiles, helicopters and food being implemented, which has demonstrated the mutual promotion of domestic and international circulation," said Vice Minister of Commerce Qian Keming at a forum held recently.
"China's industrial upgrading calls for foreign investment as well as advanced technology and management expertise. The Chinese government is striving to enhance the stability of foreign investment, strengthen investment promotion, and constantly improve the quality and level of foreign investment," said Zhu Keli, standing director of the China Information Industry Association and executive director of the China Institute of New Economy.
"China has introduced a series of regulations and policies, which has created a better investment environment for foreign companies," said Zhao Bin, senior vice-president of legal affairs at technology multinational Qualcomm.
"China will continue to shorten its negative list for foreign investment and promote the expansion of service industry. It will accelerate the construction of Hainan Free Trade Port, promote the innovation and upgrading of national economic and technological development zones, and facilitate the construction of border economic cooperation zones," noted Qian. (Edited by Zhang Yuan with Xinhua Silk Road, zhangyuan11@xinhua.org)
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