FDI into Chinese mainland grows steadily in Jan-July period

BEIJING - Foreign direct investment (FDI) into the Chinese mainland rose 2.3 percent year-on-year to 496.7 billion yuan in the first seven months of 2018, official data showed Thursday.

In dollar terms, FDI inflow grew 5.5 percent to $76 billion in the period, according to an online statement released by the Ministry of Commerce (MOC).

In July alone, FDI inflow went up 14.9 percent year-on-year to 50.4 billion yuan.

The number of new overseas-funded companies established in the January-July period surged 99.1 percent from a year earlier to 35,239, MOC data showed.

Investment into high-tech industries rose 7.5 percent and accounted for 21.5 percent of the total FDI, with the high-tech manufacturing sector attracting 48.78 billion yuan in overseas investment, up 31 percent.

In the seven-month period, China's 11 pilot free trade zones (FTZs) saw FDI inflow up 30 percent to 65.8 billion yuan, with 5,186 new overseas-funded companies established.

Regions in western China used 31.9 billion yuan of overseas investment, up 14.5 percent.

Investment from countries along the Belt and Road surged 29.8 percent, while other major FDI sources also witnessed healthy growth, the MOC said.

China has rolled out a number of measures to significantly broaden market access since the beginning of 2018, a year that marks the 40th anniversary of the country's reform and opening-up policy.

In late June, China unveiled a shortened negative list for foreign investment, which cuts the number of items on the list to 48 from 63 in the previous version and detailed 22 opening-up measures in several sectors.