Despite the worldwide economic slowdown due to the Covid-19 pandemic, foreign investors have continued to invest in China in 2021. In the first 11 months, foreign direct investment (FDI) into the Chinese mainland, in actual use, rose 15.9% year-on-year to CNY1.04 trillion, the Ministry of Commerce (MOFCOM) said. The figure has already surpassed the CNY1 trillion mark, more than the FDI in the whole of 2020, and confirming China’s place as a top investment destination. Progress was also made in the structure of foreign investment. During the January-November period, FDI into the services sector increased 17% year-on-year, and high-tech industries saw FDI inflows jump 19.3%, reflecting an optimized investment portfolio. China is opening up more sectors to foreign investors. In recent years, China has trimmed nearly two-thirds of the negative list for foreign investment.
German carmaker BMW recently announced its upgraded strategy for the Chinese market, with three new or upgraded plants planned to open in 2022. “What moves China today will move the world tomorrow. It is a perfect place and a great partner for the BMW Group to drive transformation,” Nicolas Peter, Member of the Board of Management of BMW responsible for finance and China affairs, said at a news briefing. “Next year, three new or upgraded plants will open in Shenyang and Zhangjiagang. We will soon be launching the second BMW battery electric vehicle from Shenyang. It is a fully electric 3-series, further enhancing China’s position as one of BMW Group’s top three new energy vehicle production bases in the world,” Peter added.
A report from French bank Société Générale estimated that to achieve carbon neutrality by 2060, China’s green investment needs to reach CNY2.2 trillion per year in the current decade, and the amount will grow to CNY3.9 trillion in the period from 2031 to 2060. French multinational Schneider Electric has planned to build a green smart-manufacturing innovation center in Chengdu to enhance its competitiveness. “China’s carbon peaking and neutrality goals send a signal that only those who harness advanced energy conservation technologies and sound digital transformation will attain competitiveness and sustainable growth,” said Yin Zheng, Executive Vice President of the company, the China Daily reports.
