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China's FDI inflow up 25.6% in Q1
April 14, 2022Foreign direct investment (FDI) into the Chinese mainland, in actual use, expanded 25.6 percent year on year to 379.87 billion yuan in the first quarter of the year, the Ministry of Commerce (MOC) said Thursday.
In U.S. dollar terms, the inflow went up 31.7 percent year on year to 59.09 billion U.S. dollars.
The robust FDI growth came amid mounting domestic and external uncertainties due to a mix of factors including the resurgence of COVID-19 cases.
Acknowledging the impact of COVID-19 flare-ups on the business operations of foreign enterprises in China, MOC spokesperson Shu Jueting said a special working group for key foreign-funded projects has been set up, and the ministry and local authorities are taking steps to help relevant firms tide over difficulties.
"We are helping foreign enterprises, especially those in areas severely hit by COVID-19, to solve problems they encounter in the resumption of work and production, personnel entry into China, as well as logistics and transportation," said Shu, adding that some difficulties have been gradually eased.
Specifically, foreign investment in China's high-tech industries logged a sharp yearly increase of 52.9 percent, with the volume hitting 132.83 billion yuan during the period.
FDI in high-tech manufacturing rose 35.7 percent from the same period a year ago, while that in the high-tech service sector surged 57.8 percent year on year, the data showed.
In the January-March period, FDI flowing into the country's central region reported a rapid year-on-year increase of 60.7 percent, followed by 23.4 percent in the eastern region and 21.9 percent in the western region.
