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China’s FDI Flows Up 19.6% In 9 Months As Economy Remains Upbeat

Foreign direct investment (FDI) into the Chinese mainland rose, in actual use by 19.6 percent year on year (Y-o-Y) in the first nine months of the current year.

According to the country’s Ministry of Commerce, while non-financial FDI into China totaled 859.5 billion yuan between January and September, FDI into the Chinese mainland totaled $129.3 billion, up by 25.2 percent Y-o-Y.

An analysis of the FDI inflows showed that FDI into the service sector increased by 22.5 percent in yuan terms, while high-tech industries’ FDI inflow rose by 29.1 percent Y-o-Y.

Also, foreign investments from the Association of Southeast Asian Nations and countries along the Belt and Road into the Chinese mainland increased by 31.4 percent and 31.9 percent respectively.

Meanwhile, recent official statistics also showed that the recovery of the country’s industrial economy remained on track with strong resilience and momentum.

Recently, spokesperson of the Ministry of Industry and Information Technology, Luo Junjie, said industrial output data indicated the growth rate of major economic indicators had stayed within a reasonable range and multiple measures to benefit companies led to the performance.

According to him, the country’s value-added industrial output went up 11.8 per cent Y-o-Y in the first three quarters of this year, putting the average January-September growth for the past two years at 6.4 per cent.

This is even as one of the official news agencies reported that the high-tech manufacturing sector output also rose by 20.1 per cent Y-o-Y in the first nine months, faster than the growth pace of the overall industrial output.

Luo said the profitability of market entities had improved and new drivers of economic growth had emerged.

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