BEIJING — Foreign direct investment (FDI) into the Chinese mainland, in actual use, grew 18.7 percent year on year to 84.13 billion yuan ($12.3 billion) in August, the Ministry of Commerce (MOC) said Friday.

In the first eight months, FDI inflow amounted to 619.78 billion yuan, up 2.6 percent year on year.

Foreign investment in the service industry came in at 476.61 billion yuan, up 12.1 percent year on year during the January-August period, while investment in the high-tech service sector surged 28.2 percent.

Investment from the Netherlands surged 73.6 percent, while that from Britain rose 17.2 percent, the data showed.

Building on effective containment of the COVID-19 epidemic, China has rigorously rolled out a string of measures to stabilize foreign trade and investment.

Earlier this week, the MOC pledged to significantly increase items on the industry catalog to encourage foreign investment and help foreign-funded firms benefit from preferential policies.

The ministry will continue to implement the negative list for foreign investment and expand the scope of businesses encouraging foreign investment, thereby sharing the market and opportunities in China with foreign investors, said Vice Commerce Minister Wang Shouwen.

Leave a Reply

Your email address will not be published.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

You May Also Like

With ‘Main Street’ in view, Fed weighs risks of job, productivity shocks

WASHINGTON (Reuters) – U.S. Federal Reserve officials have talked broadly about helping households and firms through the current economic crisis and quickly unleashed trillions of dollars in cash and credit guarantees to build a “bridge” to the post-pandemic world. But…

Ackman’s Pershing Square exits Starbucks, sticks by Chipotle, sees gains at Agilent

BOSTON (Reuters) – Investor William Ackman updated clients on his portfolio on Wednesday saying his Pershing Square Capital Management exited its Starbucks Corp. (SBUX.O) position as future growth looks less robust but will stick with last year’s biggest winner, Chipotle…

GE to furlough 50% of U.S. engine assembly, component manufacturing ops staff

(Reuters) – General Electric Co (GE.N) said on Thursday it would furlough about half its workers in the U.S. engine assembly and component manufacturing operations, a move that would affect thousands of employees, as the coronavirus pandemic hurts travel demand.…

Pandemic wrecks many state budgets, could trigger deep cuts

As the nation enters a third month of economic devastation, the coronavirus is proving ruinous to state budgets, forcing many governments to consider deep cuts to schools, universities, health care and other basic functions that would have been unthinkable just…