(The 3rd CIIE) Ministry of Commerce: China’s absorption of foreign investment in the global proportion is expected to rise steadily this year
China News Service, Shanghai, November 5 (Reporter Li Xiaoyu) China’s Ministry of Commerce released data on the 5th showing that China’s absorption of foreign capital in global cross-border direct investment (FDI) increased from 6.6% in 2015 to 9.2% in 2019. It is expected to continue to rise steadily.
According to official data, from 2016 to 2019, China absorbed US$549.6 billion in foreign investment, with an average annual growth rate of 1%. From 2017 to 2019, it ranked second in the world in attracting foreign investment for three consecutive years.
The Ministry of Commerce estimates that during the 13th Five-Year Plan period, China’s total investment in foreign investment will reach about 690 billion US dollars, and the average annual investment will increase by more than 10 billion US dollars over the previous five-year period.
The structure of foreign investment absorption is also optimized.
In 2019, the service industry accounted for 73.1% of foreign investment, an increase of 3.3 percentage points from 2015.
In the same year, the proportion of foreign investment in the high-tech industry increased to 27.7%, more than twice that of 2015.
Zong Changqing, Director of the Department of Foreign Investment of the Ministry of Commerce, stated at the press conference that day that the number of foreign-funded enterprises is less than 3% of the total number of Chinese enterprises of all types, but they have created two-fifths of China’s foreign trade and one-sixth of tax Income and nearly one-tenth of urban employment play an "irreplaceable" important role in the development of China's open economy and the building of a well-off society in all respects.
At present, the growth rate of China's absorption of foreign investment has achieved positive changes in the two cumulative indicators of the US dollar and RMB.
Zong Changqing said that during the "14th Five-Year Plan" period, China will continue to reduce the negative list of foreign investment access, deepen the opening of rules and standards, strengthen intellectual property protection, increase the investigation and punishment of counterfeiting and infringement, and improve the complaints of foreign companies. The work network effectively safeguards the legitimate rights and interests of foreign businessmen, and ensures that domestic and foreign enterprises are treated equally and compete fairly.
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