China saw foreign direct investment growth in the nonfinancial sector grow 0.5 percent on a yearly basis to 535.65 billion yuan ($77.16 billion) in the first seven months of this year, reaching positive growth for the first time after January this year, said the Ministry of Commerce.

In July, FDI inflows expanded 15.8 percent year-on-year to 63.47 billion yuan, achieving positive growth for four consecutive months.

China will strengthen services and help solve operational difficulties for global companies to stabilize the long-term business confidence of foreign capital against the economic fallout of the COVID-19 pandemic, said Ren Hongbin, an assistant minister at the Ministry of Commerce.

The official’s remarks came after the State Council released a guideline on Wednesday to roll out more measures to protect foreign trade entities, support the local growth of global companies and keep supply chains stable.

Under the new government rules, Ren said foreign-funded companies are equally eligible as domestic firms for the existing 1.5 trillion yuan relending and rediscount special quota support provided by the People’s Bank of China, or the central bank.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Shanghai sees uptick in hotel occupancy

With the COVID-19 epidemic coming under control, Shanghai’s hotel occupancy rates have steadily risen over the past few months, according to the Shanghai Municipal Administration of Culture and Tourism. Statistics from the administration show that the average occupancy rate of…

Ben Chu Why the financial headlines matter – and how they affect you

Negative oil prices. Company dividends cancelled. Spiking bond yields. More central bank quantitative easing. The headlines being generated by the coronavirus emergency are alarming – but also somewhat confusing. Sharing the full story, not just the headlines Original source: Independent

Unions denounce Las Vegas mayor’s call to re-open casinos

(Reuters) – The powerful United Auto Workers union on Friday criticized Las Vegas Mayor Carolyn Goodman’s call to re-open casinos despite the continued risk of coronavirus, the latest labor organization to weigh in on her remarks. UAW president Rory Gamble,…

What does the government want from a US trade deal?

Today, the UK government published its negotiating objectives for a UK-US trade agreement. We have waited a while for this – the US published its detailed, 18-page objectives over a year ago. However, it is better late than never and…