China's FDI inflow nears 920 bln yuan in first nine months

By：Xinhua News Agency Update：2023-10-23

BEIJING, Oct. 20 (Xinhua) -- Foreign direct investment (FDI) in the Chinese mainland in actual use stood at 919.97 billion yuan (about 128 billion U.S. dollars) in the first nine months of the year, the Ministry of Commerce said Friday.

The figure decreased 8.4 percent from a year earlier. The decline was due to the slow pace of the global economic recovery and the high base recorded last year, said an official of the ministry.

During the period, 37,814 new foreign-invested firms were set up across the country, up 32.4 percent year on year.

FDI in manufacturing rose 2.4 percent year on year, with that in high-tech manufacturing up 12.8 percent.

During the period, FDI from France, the United Kingdom, and Canada surged by 121.7 percent, 116.9 percent, and 109.2 percent, respectively, data from the ministry shows.

China's FDI remains on a positive trajectory over the long run, said the official.

The country's State Council has unveiled guidelines to optimize China's foreign investment environment and beef up foreign investment inflows.

In the next step, the ministry will further shorten the negative list for foreign investment, advance the reform and opening up of pilot free trade zones and free trade ports, and deepen the comprehensive trials for further opening up of the service sector, the official added.