China’s foreign capital utilization expected to grow this year: top economic planner
China's top economic planner said on Wednesday that the scale of foreign capital utilization will continue to grow beyond expectations this year.
Liu Xiaonan, an official with the National Development and Reform Commission, said at a briefing on Wednesday that China’s economy will retain good momentum in the second half of the year.
China’s early recovery from the impact of the epidemic along with its advantages in industrial and supply chains have provided favorable conditions for attracting foreign investment, he said.
“Based on a preliminary analysis, it is expected that the amount of foreign capital utilization for the whole year will grow at a rate even better than expected,” Liu said.
Foreign investment inflows continued to maintain steady and positive momentum. In the first seven months of the year, China attracted $100.74 billion of foreign direct investment, up 30.9 percent year-on-year. The investment in the high-tech manufacturing and service industries increased by 34.6 percent and 40.6 percent to $7.12 billion and $25.15 billion respectively, higher than the average growth rate, Liu noted.
He added that China will ease the restrictions on foreign investment by further reducing the negative list for foreign investment nationwide and in pilot free trade zones, as well as actively promoting the implementation of major foreign-funded projects and providing an equal environment for domestic and foreign investment.
Liu Xiaonan, an official with the National Development and Reform Commission, said at a briefing on Wednesday that China’s economy will retain good momentum in the second half of the year.
China’s early recovery from the impact of the epidemic along with its advantages in industrial and supply chains have provided favorable conditions for attracting foreign investment, he said.
“Based on a preliminary analysis, it is expected that the amount of foreign capital utilization for the whole year will grow at a rate even better than expected,” Liu said.
Foreign investment
Foreign investment inflows continued to maintain steady and positive momentum. In the first seven months of the year, China attracted $100.74 billion of foreign direct investment, up 30.9 percent year-on-year. The investment in the high-tech manufacturing and service industries increased by 34.6 percent and 40.6 percent to $7.12 billion and $25.15 billion respectively, higher than the average growth rate, Liu noted.
He added that China will ease the restrictions on foreign investment by further reducing the negative list for foreign investment nationwide and in pilot free trade zones, as well as actively promoting the implementation of major foreign-funded projects and providing an equal environment for domestic and foreign investment.
