In the first eight months of 2024 (January to August), China saw the establishment of 36,968 new foreign-invested enterprises, reflecting an 11.5 percent increase compared to the previous year, as reported by the country’s Ministry of Commerce and cited by Xinhua.
During this timeframe, the actual foreign direct investment (FDI) in mainland China reached 580.2 billion yuan (approximately $81.7 billion), representing a decline of 31.5 percent from the same period last year, according to the ministry.
The high-tech manufacturing sector accounted for 12.4 percent of the total FDI, amounting to 72.1 billion yuan, which is an increase of 1.9 percentage points from the prior year.
Moreover, FDI inflows into the medical equipment manufacturing and instruments and meters sector soared by 77.8 percent, while investments in computer and office equipment manufacturing rose by 33.9 percent during this period.
As of the end of August, China’s foreign exchange reserves reached $3.2882 trillion, reflecting an increase of $31.8 billion, or 0.98 percent, compared to the end of July, according to recent official data.
The State Administration of Foreign Exchange, as reported by Xinhua News Agency, noted that China’s reserves have consistently remained above $3.2 trillion for nine months in a row.
For more economy news, click here.
