Foreign investment still flows into China’s high-tech industries

Foreign investment has continued to flow into China’s high-tech industries, the People’s Daily reported on Tuesday.

From January to May, the actual use of foreign investment in China’s high-tech industries increased 34.6 percent with foreign investment in the high-tech service industry and high-tech manufacturing industry up 37.6 percent and 25 percent, respectively, according to data from the Ministry of Commerce (MOC).

China’s actual use of foreign investment witnessed a growth of 35.4 percent year-on-year to reach 481 billion yuan in the first five months of this year, up 30.3 percent from the same period in 2019.

During the same period of time, the service industry’s actual use of foreign investment increased 41.6 percent to 381.9 billion yuan, the report said.

The foreign investment from countries along the Belt and Road Initiative, Association of Southeast Asian Nations, and the European Union increased 54.1 percent, 56 percent and 16.8 percent, respectively.

The actual use of foreign investment in East, Central and West China increased 37 percent, 36 percent and 10.4 percent, respectively.

Meanwhile, about 18,497 foreign-invested enterprises were newly established in China from January to May, up 12.4 percent from the same period in 2019.

According to an investigation into over 3,200 enterprises by MOC in April, about 96.4 percent of foreign-invested enterprises are optimistic about their future operations in China, up 2.1 percentage points from the beginning of this year.