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MNI BRIEF: China Further Opens For Foreign Investment-Official

MNI (Singapore)

China will further open its door to foreign investment, and all local authorities have pushed to overcome the impact of Covid-19 and attract investment, said Shu Jueting, Ministry of Commerce spokesperson at a briefing on Thursday.

There were 185 large-scale foreign-funded projects each valued over USD100 million signed in the first four months, which is equivalent to an average of 1.5 projects coming to China every day, according to Shu. She added that multinational companies such as Volkswagen of Germany, Posco of South Korea, Costco of the U.S., and Hitachi of Japan continue to invest in China, driving the rapid growth of foreign investment.

In the first four months, the actual use of foreign capital nationwide was USD74.47 billion, rising 26.1% from the high base same period last year, according to Shu. Investment from South Korea, the U.S. and Germany rose by 76.3%, 53.2% and 80.4%, respectively.

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