China sees 32.1% rise in foreign-invested firms in Jan-Oct 2023

21 Nov '23

1 min read

Pic: Adobe Stock/warloka79

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China saw a 32.1 per cent increase in foreign-invested companies in the first 10 months of this year, with 41,947 new firms, despite a 9.4 per cent drop in actual FDI to 987.01 billion yuan.
Manufacturing FDI rose by 1.9 per cent to 283.44 billion yuan.
Investments from Canada, UK, and France surged by 110.3 per cent, 94.6 per cent, and 90 per cent.

China has witnessed a significant increase in new foreign-invested companies, with 41,947 established in January-October 2023, a 32.1 per cent rise from the previous year, as per the ministry of commerce.

Despite this growth, foreign direct investment (FDI) on the Chinese mainland in actual use declined by 9.4 per cent year-on-year, totalling 987.01 billion yuan (approximately $137.6 billion). Notably, FDI in the manufacturing sector rose by 1.9 per cent to 283.44 billion yuan.

Investments from Canada, the UK, and France have surged dramatically, recording increases of 110.3 per cent, 94.6 per cent, and 90 per cent, respectively.

Li Chao from the National Development and Reform Commission, in a recent press conference, stated that China intends to reasonably shorten its negative list for foreign investment and eliminate restrictions on foreign entries into the manufacturing sector.

Fibre2Fashion News Desk (NB)

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