China's actually used foreign investment totaled USD168.34 billion in the first 10 months, an increase of 17.4% year-on-year, MOFCOM Spokesperson Shu Jueting told a regular press conference. A breakdown of the FDI numbers revealed that South Korea's actual investment in China soared 106.2%. The amount of FDI from Germany rose by 95.8%, that from the UK went up 40.1% and that from Japan was 36.8% higher. Eastern China recorded a 12.4% increase in the actual use of FDI, with 33.6% for central China and 26.9% for western China. The figures for the first 10 months speak volumes about the resilience and continued attractiveness of the Chinese market for overseas capital, Cao Heping, Economist at Peking University, told the Global Times.
Behind the numbers is China's position as the only country in the world with all the industrial categories listed in the UN industrial classification. Together with its favorable business environment, sound infrastructure, stable political, economic and social environment, this makes the Chinese market an eagerly pursued destination for foreign investment. According to Cao, the internet-based shared economy, underpinned by China's digital technologies, has gained steam over the past few years, resulting in an economic transition and a shift in capital investment toward high-tech areas.The rebalancing toward tech-driven growth ratchets up the country's long-term allure for foreign capital investment, he said, as reported by the Global Times.
Last month, the National Development and Reform Commission expanded the list of sectors open to foreign investment to 519, up from 480.
