icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
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%.

Also on rt.com Beijing vows to respond as US blacklists 23 more Chinese companies

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.

For more stories on economy & finance visit RT's business section

Podcasts
0:00
24:45
0:00
25:14