China's FDI rises to a record in 2020 despite the coronavirus.
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Foreign direct investment (FDI) in China rose to a record 2020, with the fastest growth in five years, despite a disruption from the coronavirus outbreak.The U.S. dollar-denominated FDI, excluding financial sectors such as banking, securities and insurance, rose to $ 144.37 billion last year, the highest level since the record began in 1983, the Commerce Department said on Wednesday.Up 4.5 percent from 2019, the fourth consecutive year of growth.Get the latest insights and analysis from our Global Impact newsletter on the big things happening in China.FDI refers to the investment of equity in fixed asset projects such as businesses or factories, while portfolio investing is the inflow of capital in domestic securities such as stocks and bonds.In December, foreign investment in China rose to $ 14.90 billion, 8.4 percent higher than a year earlier, and the highest growth rate since June, according to calculations by the South China Morning Post.China in 2020 successfully responded to the devastating effects of the coronavirus outbreak, achieving its goal of stabilizing foreign investment.

Ministry of Commerce

In yuan terms, FDI stood at 999.98 billion yuan in 2020, the สล็อตออนไลน์ biggest record level after a 6.2 percent increase from a year earlier.China in 2020 has successfully responded to the devastating effects of the coronavirus outbreak, achieving its goal of stabilizing foreign investment from the background of reduced global cross-border direct investment. Rapidly down while increasing total number, growth rate and global share, ”the Commerce Department said.The strong foreign direct investment figures came after China earlier this week confirmed an economic growth rate of 2.3 percent in 2020 compared to the previous year, with growth rising to 6.5 percent in the fourth quarter.Since Chinese leaders opened the country to the rest of the world four decades ago to drive economic reforms, foreign investment has played a key role in driving technological development and innovation in the Chinese economy.

And although tensions between China and the US intensified during the outbreak, But Beijing has remained in association with foreign investors in recent years.China added 127 more areas to its list of industries that allow foreign investment, with the vast majority of those staring in investment in central, western and northeastern China, totaling 1,235.In February, China will drop the list of "negative" industries in the Hainan free trade port that does not restrict foreign investment. This would include removing the remaining limits for the mining and automobile manufacturing sectors while eliminating additional restrictions in telecommunications, education and legal services.Foreign investment in China's service sector rose 13.9 percent in yuan in 2020, while investment in the high-tech and high-tech services industries rose 11.4 percent and 28.5 percent, respectively.

Foreign investment in China's eastern provinces - the region's most economically advanced - rose 8.9 percent from a year earlier and accounted for 88.4 percent of the country's total.The Commerce Department did not disclose full FDI details for last year, with only investments from the Netherlands and the UK rising 47.6 percent and 30.7 percent, respectively, from the previous year.It also confirmed investments from the top 15 countries, including the Netherlands and England, up 6.4 percent in 2020, with the top 15 accounting for 98 percent of the total.The FDI of the 10 member states of the Association of Southeast Asian Nations (ASEAN) increased 0.7 percent.The ASEAN region was China's largest trading partner last year, surpassing both the European Union and the United States, although it is unclear from the statement. Is the region included in the top 15 investment destinations?Even more eager to lure international companies But China is also trying to tighten regulations as Chinese investment is subject to more scrutiny abroad.China's new rules to censor foreign investment in the national security area came into effect Monday, with lobbying groups warning it could hurt Beijing's plans to attract more foreign investors.

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