Foreign Direct Investment May Achieve Double-Digit Growth In 2021
From January to October, service industry inflows amounted to 752.52 billion yuan, a year-on-year increase of 20.3%. The Ministry of Commerce said on Thursday that if current trends continue. Moreover, The China’s total foreign investment in 2021 may increase by double digits from the previous year.
Ministry of Commerce spokesperson Shu Juoting said at an online media briefing that thanks to the efforts of central and local government departments. All levels to attract foreign investment, so far this year, China’s foreign investment has grown faster than expected.
A report issued by the United Nations Conference on Trade and Development. In October stated that the global foreign direct investment flow in the first half of the year was estimated to reach 852 billion U.S. dollars. The rebound momentum was stronger than expected.
It also stated that the global FDI outlook for the whole year has improved compared to earlier forecasts. The current momentum and growth of international project financing may bring FDI flows back to pre-pandemic levels.
Shu said that China’s economy has maintained steady growth and still has comprehensive competitive advantages. Attracting foreign investment in terms of industrial supporting facilities, infrastructure, human resources and business environment.
“China’s hyperscale market is becoming increasingly attractive to foreign investors.
Who have stable expectations and firm confidence in Chinese investment,” she said.
According to the Ministry of Commerce. The China actually used 943.15 billion yuan (US$147.8 billion) of foreign capital in the first 10 months. A year-on-year increase of 17.8%.
Among them, the service industry inflows amounted to 752.52 billion yuan, a year-on-year increase of 20.3%. The growth rate of foreign capital actually used in high-tech industries reached 23.7%.
The video conference between President Xi Jinping and U.S. President Biden pointed out the direction for Sino-U.S. relations and set the tone for bilateral economic and trade exchanges.
The economic and trade teams of the two countries will implement the consensus, The Ministry of Commerce will notify the public of any new information.
Zhou Mi, a senior researcher at the China Institute of International Trade and Economic Cooperation. Said that despite the impact of the COVID-19 pandemic, bilateral trade between China and the United States is still growing rapidly. However, which reflects the huge potential for China-US cooperation in the economic and trade field.
Zhou said that the additional tariffs adopted by the two countries. In the trade dispute have disrupted markets and economic activities. But two countries should strengthen dialogue to ease investor uncertainty, especially those related to inflation and supply chain pressures. .
He added that the rapid growth of direct investment in China not only shows the confidence of foreign investors in China. But also helps safeguard the interests of foreign investors and the global supply chain.
Swire Coca-Cola, the fifth-largest bottled partner in Coca-Cola’s global sales, recently announced the launch of the Henan Zhengzhou plant expansion and renovation project. With a total investment of no less than 900 million yuan.
Swire Coca-Cola values China’s vibrant and fast-growing market. Su Wei, President of Swire Coca-Cola Co., Ltd. Moreover he said that policy support, development facilitation and strong domestic demand have prompted Swire Coca-Cola to focus its strategy on China.