China’s FDI inflows surge at fastest rate in 13 years during first quarter, surpassing pre-pandemic level
- 10,263 new foreign-invested companies were established in China during the first three months of the year
- Data from the Ministry of Commerce comes as China continues to court foreign businesses while the United States is looking to help American companies exit the Chinese market
Foreign direct investment in China grew at the fastest pace in more than a decade during the first quarter of 2021, according to data released by the Ministry of Commerce on Thursday.
Foreign direct investment – excluding financial sectors such as banking, securities and insurance – surged 43.8 per cent during the January-March period, year on year. That was the highest quarterly growth rate since the second quarter of 2008.
In yuan terms, FDI in the first quarter grew by 39.9 per cent to 302.47 billion yuan (US$46.28 billion), marking a 24.8 per cent increase from the same period in pre-coronavirus 2019.
A total of 10,263 new foreign-invested companies were established in China during the first three months of the year, 47.8 per cent more than during the first quarter of 2020, and a 6.8 per cent increase from the same period in 2019, ministry data shows.