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14 Jul, 2021 08:19

Foreign direct investment in China soars by nearly 34% this year

Foreign direct investment in China soars by nearly 34% this year

The Chinese economy attracted over 607 billion yuan ($91 billion) in foreign direct investment (FDI), in the first half of 2021, which is a 33.9% increase year on year, the country’s Ministry of Commerce said on Wednesday.

According to its report, the Chinese service sector drew in the largest amount of foreign capital – some 482.77 billion yuan ($74.61 billion) – soaring 33.4% year on year.

The high-tech industry also saw a significant increase in foreign investment – by 39.4%. High-tech services attracted 42.7% more investments than in 2020, while the high-tech manufacturing industry’s appeal rose by 29.2%.

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The document states that the volume of FDI coming from China’s key partners in the Belt and Road Initiative increased by 49.6%, while the intake from the Association of Southeast Asian Nations was up by 50.7%.

The country’s cooperation with European countries yielded less, but still showed an increase of 10.3% year on year.

At the end of 2020, China attracted a total of $144.37 billion in foreign direct investments – 4.5% more than in 2019.

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