FDI into Chinese mainland sees steady growth

BEIJING - Foreign direct investment (FDI) into the Chinese mainland saw steady growth in March and the first quarter of 2018, new data showed Thursday.

FDI inflow edged up 0.4 percent year-on-year in March to 88.14 billion yuan ($14.03 billion), Gao Feng, spokesperson with the Ministry of Commerce, said at a press conference.

In the first quarter, total FDI inflow rose 0.5 percent to 227.54 billion yuan.

The number of new overseas-funded companies established in the first three months surged 124.7 percent from a year earlier to 14,340, Gao said.

Investment into high-tech sectors rose 12.8 percent and accounted for 19.3 percent of the total FDI, data showed.

The high-tech manufacturing sector continued to see "relatively fast" investment growth, as it attracted 22.5 billion yuan in overseas investment, up 66 percent.

Central China saw an FDI increase of 46.7 percent, while western China used 23.4 percent more investment compared to the same period of last year.

Investment from countries along the Belt and Road increased 76 percent in the first quarter, Gao said.

Earlier this week, Chinese leaders unveiled new measures for expanding reform and opening up, including broadening market access, creating a more attractive investment environment, strengthening protection of intellectual property rights and expanding imports.

Gao said the new pledges showed China's "resolution and confidence to push forward the new round of high-level opening up."

The ministry is working with other departments to draft a series of policies, including those on improving the negative list on foreign investment, expanding opening up and optimizing the investment environment, Gao said.

"In the first half, we will work to complete the revision of the negative list on foreign investment," he said.

This year, China marks the 40th anniversary of the reform and opening up policy, which has been behind China's robust growth over the past four decades.