This photo shows some Chinese currency 100 Renminbi notes together with a US 100 dollar note, which was shot on 14 October 2004 in Beijing. (FREDERIC BROWN / AFP)
BEIJING - Foreign direct investment (FDI) into the Chinese mainland rose 9.1 percent year on year to 62.52 billion yuan (US$9.6 billion) in August, data from the Ministry of Commerce showed Thursday.
In the first eight months, FDI dropped 0.2 percent year on year to 547.94 billion yuan.
The trend for more foreign investment in high-end sectors continued.
High-tech manufacturing saw FDI rise 15 percent to 43.69 billion yuan, while foreign investment in high-tech services surged 21.4 percent to 81.44 billion yuan.
While Chinese companies are going global, FDI still makes great sense for China today
While Chinese companies are going global, FDI still makes great sense for China today.
From research and development centers and technological spillover to the acquisition of world-class management skills, the impact of FDI in China is huge.
The Chinese leadership has promised to create "a stable, fair, transparent and predictable business environment," with a range of measures underway.
China has created 11 free trade zones where foreign firms can avoid red tape when applying for registration. It is shortening the list of sectors that are off-limits to foreign investors, as well as reducing market entry restrictions for industries such as transport and financial services.
China's ODI down 41.8 pct in Jan-Aug
China's non-financial outbound direct investment (ODI) dropped 41.8 percent year on year to US$68.72 billion in the first eight months, mainly due to government measures to curb irrational investment, according to the authority.
Chinese companies made the outbound investment in more than 4,789 overseas enterprises of 152 countries and regions from January to August, the Ministry of Commerce said on its website.
The plunge narrowed 2.5 percentage points from the January-July period, and the ODI structure continued to improve, according to ministry spokesman Gao Feng.
The investment mainly went to the leasing and commercial services, manufacturing, wholesale and retail, and information technology sectors.
As the government moved to supress irrational investment, there were no new investment projects in real estate, sports and the entertainment sectors, Gao said.
Since late 2016, the ministry has cooperated with other departments to reinforce inspections into the authenticity and regulation compliance of outbound investment to optimize investment structure.
Outbound investment to countries involved in the Belt and Road Initiative stood at US$8.55 billion, accounting for 12.4 percent of the total ODI, up 4.3 percentage points from the same period of 2016.