China has witnessed the establishment of 36,968 new foreign-invested companies in the first eight months of 2024, marking an 11.5% increase compared to the previous year, according to the Ministry of Commerce.
In a statement reported by China’s Xinhua News Agency, the Ministry revealed that total foreign direct investment (FDI) in mainland China during this period reached 580.2 billion yuan (approximately $81.7 billion). However, this represents a 31.5% decrease compared to the same period last year.
High-Tech Manufacturing Sector Gains Foreign Investment
Despite the overall decline in FDI, the high-tech manufacturing sector attracted significant foreign investment. The sector accounted for 12.4%, or 72.1 billion yuan, of the total FDI inflows, reflecting a growth of 1.9 percentage points from the same period in 2023.
Investments in medical equipment manufacturing and the production of tools and instruments surged by 77.8%. Additionally, investments in computer and office equipment manufacturing grew by 33.9% during this time.
Key Source Countries for FDI
In terms of source countries, Singapore and Germany led the way, with FDI from these nations increasing by 11.6% and 5.4% year-on-year, respectively, according to the Ministry’s data.
China continues to attract foreign investments, particularly in advanced technology sectors, despite challenges in overall FDI numbers.
