Foreign direct investment (FDI) into China rose 7.9% to reach $135 billion in 2017, while China’s outbound investment declined, according to data released by the Ministry of Commerce Tuesday cited by People’s Daily.
The increase will be welcomed by Beijing, as news on foreign investment has been mixed in recent years. In 2016, European FDI declined by more than 20%.
“The structure of foreign investment continued to improve, with strong investment in high-tech services, which rose 93.2% year-on-year to reach 185 billion yuan,” Tang Wenhong, an MOC official, told People’s Daily.
FDI into central China rose 22.5% year-on-year to $8.4 billion in 2017.
However, non-financial outbound direct investment from China declined in 2017 as the government tightened restrictions on overseas investment. Chinese investors spent $120 billion in 174 countries in total in 2017, a 29.4% drop compared to the previous year.