China

Foreign Investment in China Surged This Year – Xinhua

China says foreign investment surged in the first seven months of this year. People walk past a Prada luxury fashion boutique near Wangfujing Street, a pedestrian shopping area in Beijing. File photo: Reuters.

Foreign direct investment (FDI) inflows into China surged 17% from a year earlier in the first seven months of the year, state news agency Xinhua said in a report on Friday.

FDI climbed to 798.33 billion yuan (nearly $124 billion) by the end of July, said the report, which put this down to four “attractive” factors – its large market, social stability, positive economic future, plus policy work undertaken to assist foreign firms to resume activity amid the Covid-19 pandemic, government spokesperson Shu Jueting was quoted as saying.

Read the full report: China.org.cn.

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Alfie Habershon

Alfie is a Reporter at Asia Financial. He previously lived in Mumbai reporting on India's economy and healthcare for data journalism initiative IndiaSpend, as well as having worked for London based Tortoise Media.