A new report by China’s Ministry of Commerce showed that foreign direct investment (FDI) into the country rose 6.3 percent in the first 11 months of 2020, year-on-year to 899.38 billion yuan ($137.3 billion).
Statistics showed that for November alone FDI rose 5.5 percent from a year earlier to 98.7 billion yuan ($15 billion), marking eight straight months of gains.
FDI in China contracted by 11 percent in the first quarter, but grew by 8.4 percent in the second quarter, and 20 percent in the third. The Commerce Ministry said earlier that growth will continue in the last quarter of the year, and the country was taking more measures to secure this target.
Beijing has rolled out a range of measures to stabilize foreign trade and investment amid the global coronavirus pandemic.
The ministry said recently that many foreign companies adopted a “wait and see” attitude in the early stages of the pandemic, but later expanded their investments. The ministry’s senior official Zong Changqing told CGTN earlier that investors now “see China as a safe harbor for cross-border investment.”
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