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Jan 14, 2017 12:55 PM IST IST | Source: PTI

China received $118 bn FDI with over 4% growth in 2016

Foreign Direct Investment (FDI) growth slowed to 813 billion yuan (USD 118 billion) from the 6.4 percent gain in 2015.

Foreign Direct Investment in China maintained a steady growth last year as it rose 4.1 percent year on year basis to reach around USD 118 billion, the commerce ministry said today.

Foreign Direct Investment (FDI) growth slowed to 813 billion yuan (USD 118 billion) from the 6.4 percent gain in 2015.

In December alone, the FDI inflow went up 5.7 percent, state-run Xinhua news agency reported.

Foreign investment in the service industry rose 8.3 percent year on year to 572 billion yuan and accounted for 70.3 percent of all FDI.

FDI in high-tech services was particularly strong, up 86.1 percent from a year earlier to reach 95.6 billion yuan.

The Ministry of Commerce (MOC) attributed the steady momentum to government action such as easing restrictions in free trade zones (FTZs) and simplified procedures for investment entry.

Last year, FDI to FTZs in Shanghai, Guangdong, Tianjin and Fujian jumped 81.3 percent to 88 billion yuan.

FDI from the US rose 52.6 percent, while that from the EU went up 41.3 percent.

FDI from Japan edged up 1.7 percent in 2016, reversing two years of falls.

The number of newly-established foreign companies with investment of over 100 million US dollars exceeded 840, with businesses covering many emerging and high tech industries.

To attract more foreign investment, Chinese authorities are considering revising guidance for entry to the market, cutting the number of restrictive measures from 93 to 62.

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