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August 14, 2020

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Reversing streak, July FDI into mainland jumps 15.8%

Foreign direct investment into the Chinese mainland, in actual use, expanded 15.8 per­cent year on year to 63.47 billion yuan (US$9.14 billion) in July, the Ministry of Commerce said yesterday.

It was the fourth straight month that China witnessed positive growth in FDI.

The performance of FDI in­flow in the January-July period was better than expected, re­versing a losing streak in the first half, said Zong Changqing, an official with the ministry.

During the period, FDI rose 0.5 percent year on year to 535.65 billion yuan, gaining 1.8 percentage points than that of the January-June period.

A breakdown of data showed FDI inflow in the service indus­try hiked 11.6 percent from January to July to 414.59 billion yuan from the same period last year, accounting for 77.4 per­cent of the total.

Investment from the Hong Kong Special Administra­tive Region, Singapore and the United Kingdom logged a year-on-year growth of 8.2 percent, 4.6 percent and 48.6 percent, respectively, during the same period. In the first seven months, a total of 18,838 new foreign-funded enterprises were established in China.

It showed that most multi­national companies were still upbeat about their business outlook in China, and their plans to continue long-term de­velopment in China remained unchanged, Zong said.

On Wednesday, the State Council released a batch of 15 policies and measures designed to stabilize foreign trade and foreign investment. They cover aspects including increasing fiscal, tax and financial sup­port, developing new modes of trade, improving the facilita­tion of customs clearance and personnel exchanges, and sup­porting key industries and key enterprises.

For instance, China will offer credit enhancement support for foreign trade enterprises in various ways, such as fur­ther expanding the supply of export credit to small, medium-sized and micro foreign trade enterprises.

Also, financial support will be given to key foreign compa­nies, and the special amount of reloan and rediscount shall be equally applicable to foreign-funded enterprises.

The threshold will be lowered for foreign-funded research and development centers to enjoy preferential policies, aiming to encourage more foreign inves­tors to set up R&D centers in China.

On the premise of strictly implementing the requirements of epidemic prevention, China will continue to discuss with relevant countries about the establishment of fast passes which can facilitate person­nel exchanges, and will also increase the total number of international passenger flights by stages.


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