Published: 16:52, April 19, 2024
Number of foreign-invested firms in China up 20.7% in Q1
By Xinhua
An aerial photo taken on Aug 20, 2023 shows a view of Volkswagen (Anhui) Automotive Company Limited in Hefei, Anhui province, China. (PHOTO / XINHUA)

BEIJING - The number of newly established foreign-invested firms in China hit 12,000 in the first quarter of 2024, up 20.7 percent year-on-year, the Ministry of Commerce said on Friday.

In terms of the structure of foreign direct investment (FDI), the country's high-tech manufacturing sector attracted 12.5 percent of the FDI inflow in the first quarter, up 2.2 percentage points compared to that in the same period last year.

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"FDI to service sectors that are closely related to people's lives also saw quick growth," said Guo Tingting, vice-minister of commerce.

In Q1, the actual FDI in China stood at 301.67 billion yuan (about $42.46 billion), which remained at a high level, Guo said at a press conference in Beijing.