China's utilization of foreign investment has maintained a stable and improved momentum during recent years despite a dip in transnational investment across the globe, a Chinese official said Tuesday.
Foreign direct investment (FDI) in the Chinese market rose 6.8 percent year-on-year from January to May, and the country's FDI reached a record high of $134.9 billion in 2018, up 3 percent on a yearly basis, according to data released by the
Ministry of Commerce (MOFCOM).
However, the total transnational direct investment in 2018 has fallen to the lowest level since the global financial crisis, Tang Wenhong, director of the Department of Foreign Trade Administration of MOFCOM, told a meeting in Beijing.
Transnational direct investment dropped in three consecutive years, from $1.9 trillion in 2015 to $1.3 trillion in 2018, the official said.
China has attached great importance to attracting foreign capital and will continue efforts to advance foreign investment in the domestic market, Tang said.
The country has edited its negative list five times during the past six years, he said. On Sunday, China released the 2019 version of national negative list and the negative list for free trade zones to further open sectors like agriculture, mining and advanced manufacturing. The two negative lists will take effect from July 30.
The country has also strengthened efforts to cut the scope of examination and approval of foreign-funded enterprises in the domestic market, trying to decentralize approval authority, Tang said.
From January to June, only 30 foreign-funded firms were approved by the national approval system, accounting for 0.16 percent, he said.
In accordance with the provisions of the foreign investment law, MOFCOM will establish an information reporting system to further facilitate investment from overseas companies, which will take effect from January 1, 2020.
The ministry will continue to stabilize foreign investment in a bid to create a world-class foreign investment environment in the domestic market, Tang said.
