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China's manufacturing industry sees FDI growth

from: date: 2023-11-22

Containers are unloaded at Qingdao Port in Shandong province in March. [Photo by Yu Fangping/For China Daily]

Foreign direct investment into China's manufacturing industry grew by 1.9 percent year-on-year to 283.44 billion yuan ($39.47 billion) in the first ten months of 2023, while that of high-tech manufacturing soared 9.5 percent on a yearly basis, data from the Ministry of Commerce showed.

In the meantime, China saw the number of newly established foreign-invested enterprises reach 41,947, a year-on-year increase of 32.1 percent.

FDI into the Chinese mainland in terms of actual use dropped 9.4 percent year-on-year to 987.01 billion yuan from January to October, according to the commerce ministry.

During the 10-month period, FDI from Canada, the United Kingdom, France, Switzerland and the Netherlands, jumped by 110.3 percent, 94.6 percent, 90 percent, 66.1 percent and 33 percent year-on-year, respectively.