Aerial photo shows the morning view of the Lujiazui area in Pudong, east China's Shanghai. (Xinhua/Ren Long)
BEIJING, Dec. 20 (Xinhua) -- The Institute of International Economy under the University of International Business and Economics on Sunday published a report on the development of foreign investment in China, stating that attracting foreign direct investment (FDI) has been playing a unique role in the country's opening-up in the past decade, reported Economic Information Daily.
Against worldwide fluctuations in international direct investment, China's actual use of FDI has witnessed steady increase amid structural adjustment, according to the report. Data shows that China's FDI, in actual use, expanded over 55 percent to 173.48 billion U.S. dollars in 2021 from the 2012 figure of 111.72 billion dollars, with the annual use of FDI ranking top among developing countries for 30 consecutive years. In the past ten years, the country's actual use of FDI has accumulated to over 1.2 trillion U.S. dollars.
At the meantime, the structure of foreign investment has been gradually upgraded, with the quality of foreign investment significantly improved. The proportion of foreign investment in high-tech industries has more than doubled from 14.1 percent in 2012 to 30.2 percent in 2021, according to the report.
In the past decade, China has accelerated the optimization of business environment for foreign investment, with open platforms such as pilot free trade zones and free trade ports leading the innovation of foreign investment management systems, says the report.
Experts at the briefing event of the report's release noted that China is committed to building the new development pattern, promoting higher-level opening-up and striving to further improve the business environment for foreign investment, as a bid to better attract FDI and maintain FDI growth at a higher rate with improved quality.
(Edited by Yu Huichen with Xinhua Silk Road, yuhuichen@xinhua.org)
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