FDI worth $142.01 bn in China's non-financial sectors in Jan-Oct 2021

Under the dual-circulation model, the domestic market is the mainstay while the domestic and foreign markets reinforce each other.

Platforms like the China International Import Expo, Hainan Free Trade Port and the Regional Comprehensive Economic Partnership will also help attract more FDI this year, according to experts and business leaders in China.

Because China experienced shorter lockdowns compared with other countries and its economy reopened swiftly after gaining control of COVID-19, the nation-effectively backed by its complete industrial and supply chain-became a more attractive destination for global capital, said Zhou Zhicheng, a researcher at the Beijing-based China Federation of Logistics and Purchasing.

China will encourage multinationals to actively participate in its dual-circulation development pattern, and add investment especially in sectors such as low-carbon fields and digital economy in the coming years, Zhang Yongjun, deputy chief economist at the China Center for International Economic Exchanges, was quoted as saying by a state-controlled newspaper.

FDI into the services sector increased by 20.3 per cent year on year in the first 10 months, while high-tech industries saw the inflow of global capital jump by 23.7 per cent from the same period last year.

China saw investment from countries and regions involved in the Belt and Road Initiative and the Association of Southeast Asian Nations surge by 30.7 per cent and 29.5 per cent year on year respectively from January to October, added the ministry.

Fibre2Fashion News Desk (DS)