China has seen its levels of actually used foreign investment rise by over 17% in the first half of 2022, despite uncertainty created by renewed Covid restrictions and heightened geopolitical tensions.
Actually used foreign investment in the first half of 2022 totalled 723.31 billion yuan, for growth of 17.4% compared to the same period last year, according to official data released by the Ministry of Commerce (MOFCOM) on 29 July.
Actually used foreign investment in the manufacturing sector surged by 54.8%, while for the hi-tech sector actually used foreign investment leaped 33.6%.
“In terms of market opportunities, China is the world’s second largest consumer market with a population of over 1.4 billion people, said Chen Chunjiang (陈春江), head of MOFCOM’s foreign investment department. “It has a middle income population of over 400 million, and its market growth potential is continually being unleashed.
“In terms of opening opportunities, China is opening its doors wider and wider, the foreign investment negative list is becoming shorter and shorter, and restrictions to entry are becoming fewer and fewer…investment opportunities for multi-national companies are even greater.
“We will make full use of China’s comprehensive advantages in attracting capital, and attract even more multi-national companies to invest in China.”