Morning view of the Lujiazui area in Pudong of Shanghai, June 21, 2018. (REN LONG / XINHUA)
QINGDAO - China has set up 961,000 foreign-invested enterprises by the end of 2018, with its actual use of foreign capital reaching US$2.1 trillion, said a report released by the Ministry of Commerce.
ALSO READ: China plans more changes friendly to foreign investors
The report was issued at the first Qingdao Multinationals Summit, which kicked off Saturday in Qingdao in east China's Shandong Province with a total of 115 Fortune 500 companies and 197 industry leaders attending.
The report said that as important participants, witnesses and beneficiaries, multinationals have played positive roles in China's 40-plus years of reform and opening-up. For 27 years in a row, China has attracted more foreign investment than any other developing countries.
READ MORE: FTZ model becomes new driving force
Although accounting for less than 3 percent of total companies in China, the foreign-invested enterprises have become an important player in the Chinese economy, contributing nearly half of the country's foreign trade, a quarter of the output value and profits of industrial enterprises and a fifth of tax revenue, according to the report.
Copyright 1995 - 2024. All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily. Without written authorization from China Daily, such content shall not be republished or used in any form.
CHINA DAILY HONG KONG NEWS |
OPEN |