26,174 new foreign enterprises were established in the first ten months of 2017, representing an increase of 15.9 percent and the country’s FDI hit 678.7 billion yuan, up 1.9 percent from the same period a year ago, the statistics released by the Ministry of Commerce on November 14. 2,633 new foreign enterprises were established in October, increasing 104.4 percent and the FDI hit 60.12 billion yuan in October, increasing 5 percent year on year.
An official from the Ministry of Commerce indicated that the manufacturing sector maintained FDI growth in the first ten months. The high-tech manufacturing sector and high-tech service industry maintained high growth. Statistics show that from January to October, the manufacturing sector attracted FDI worth 195.91 billion yuan, up 6.1 percent year on year, accounting for 28.9 percent of the total FDI. Chemical materials and chemical products manufacturing industries saw an increase of 31.1 percent. Medical manufacturing industry recorded a year-on-year increase of 8.5 percent. General equipment, computers and other electronic equipment manufacturing industry recorded a growth of 20.7 percent year on year.
The service sector drew 470.52 billion yuan, or 69.3 percent of the total. FDI in production and supply of power, gas and water rose 74.3 percent year on year. The construction sector saw an increase of 27.6 percent. The information transport, computer services and software sectors recorded an increase of 19.8 percent. The leasing and business services sector saw an increase of 10.2 percent and scientific research, technical services and geological survey industries recorded a year-on-year increase of 18 percent.
It is noteworthy that 56.65 billion yuan flowed into the high-tech manufacturing sector, an increase of 22.9 percent year on year. The electronics and communication equipment manufacturing, computers and office equipment manufacturing, medical equipment and instruments manufacturing industries recorded an increase of 26.4 percent, 46.9 percent and 28.8 percent, respectively. The high-tech service industry actually used 95.01 billion yuan in FDI, up 20 percent year on year. Information services, R&D and design services and technical results transformation services saw an increase of 20.7 percent, 8.5 percent and 36.8 percent, respectively.
Insiders pointed out that China’s FDI has maintained stable since the beginning of the year. With the structural improvement in FDI, high-tech sectors have become the focus favored by foreign investors thanks to the improvement in the investment environment for foreign investment and supporting policies. China has introduced various policies on loosening the access to foreign investment and giving equal treatment to foreign investment in recent years.
Translated by Star Zhang
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