BEIJING, March 18 (Xinhua) — International investor confidence in China’s prospects continues to strengthen because the economic system maintains restorative development momentum, which drove up funding influx within the first two months of the yr, a Ministry of Commerce (MOC) spokesperson mentioned on Thursday.
Specifically, international funding in high-tech industries registered notable development as China accelerates its building of a brand new growth paradigm, mentioned spokesperson Gao Feng. The brand new growth paradigm refers to “twin circulation,” through which home and abroad markets reinforce one another, with the home market because the mainstay.
He mentioned that industries hit onerous by the COVID-19 epidemic final yr, together with the resort and catering sectors in addition to wholesale and retail commerce, noticed a fast rebound.
International direct funding (FDI) within the Chinese language mainland, in precise use, expanded 31.5 % yr on yr to 176.76 billion yuan within the first two months, earlier MOC knowledge confirmed.
In U.S. greenback phrases, influx rose 34.2 % yr on yr to 26.07 billion U.S. {dollars}.
International funding within the companies trade got here in at 141.74 billion yuan (21.78 billion U.S. {dollars}) throughout the interval, up 48.7 % yr on yr.
FDI within the Chinese language mainland, in precise use, expanded 6.2 % yr on yr to a file excessive of 999.98 billion yuan in 2020.