Primary Taiwanese news agency Central News Agency (CNA) recently reported that, according to the latest data released by China’s Ministry of Commerce, China’s actual use of foreign direct investment (FDI) in the first quarter was 301.67 billion yuan (around US$42.5 billion), a year-over-year decrease of 26.1 percent.
{Editor’s note: The Ministry of Commerce press release mentioned several industries in China that saw year-over-year increases in FDI, as well as several foreign countries that increased their direct investment in the country. The release omitted data about which industries’ FDI contracted and which foreign countries decreased their FDI in China.} China’s accommodation and catering industry grew the fastest in terms of FDI in the first quarter, reaching 84.7 percent year-over-year growth, followed by the construction industry, which grew at 17.5 percent year-over-year. The actual use of foreign investment in the medical equipment and instrumentation manufacturing industry increased by 169.7 percent year-over-year. In the first quarter, German investment in China increased by 48 percent year-over-year. ASEAN investment in China increased by 5.8 percent year-over-year. The head of the Foreign Investment Management Department of the Chinese Ministry of Commerce explained that fluctuations in data are common. The official press release did not disclose investment figures for other countries.
Source: CNA, April 19, 2024
https://www.cna.com.tw/news/acn/202404190337.aspx