Foreign direct investment increased in China

Foreign direct investment in the country reached 408.45 billion yuan (about 59.4 billion U.S. dollars) in the January-March period, up 4.9 percent year-on-year, according to a statement from the Ministry of Commerce.

In the first three months of the year, more than 10,000 foreign partner companies established themselves in the country, and the number of companies increased by 25.5% compared to the previous year.

Foreign investment in industrial branches producing high technology increased by sector by 18 percent. The 55.7% increase in the sectors producing electronic equipment and telecommunications drew attention.

INCREASED 20.2 PERCENT

Investments in research, development and design increased by 24.6%, while investments in the pharmaceutical industry increased by 20.2%.

In the first three months, investments from France increased 635.5 percent, representing the largest increase. Investments from Germany, England, Canada, Japan, Switzerland and South Korea also increased.

Investments from countries under the Belt and Road Initiative (BRI) also increased by 27.8 percent.

Foreign direct investment in China increased 8 percent in 2022 compared to the previous year. (AA)