2017年CRI China remains top destination of foreign capital for 25 years

China remains 1 top destination of foreign capital for 25 years

The Chinese authorities say the country is attracting the most foreign investment among developing countries as it eases access for foreign capital.

It's also reported that a growing number of Chinese enterprises are going out as China deepens reform and promotes overseas trade and economic cooperation.

CRI's Guan Chao has more.

Official data shows that China's actual use of foreign direct investment amounted to over 489-billion US dollars between 2013 and 2016.

That marked an annual growth of 3-percent.

Speaking at a news conference, a spokesperson from the Ministry 2 of Commerce, Gao Feng, said that foreign capital inflow has been climbing steadily 3 in China.

"As global transnational direct investment dropped 2-percent, China's actual use of foreign investment reached over 864-billion yuan, a year-on-year growth of 3-percent. Between 2013 and 2016, the number of China's newly-added foreign entities 4 accumulated to over 100-thousand. China attracted over 521-billion US dollars of foreign capital in the same period ranking the top among developing countries for 25 years."

The spokesperson added that foreign investment in China has seen improvement, both in quantity and quality, with growing foreign capital flowing into hi-tech industry.

Data suggests the hi-tech sector 5 attracted 2-percent of the total foreign investment in 2016, while the number of R&D centers of multinational 6 companies also exceeded 2400.

"In 2016, the fixed 7 asset investment of foreign entities grew at a rate higher than the 7.5-percent of national average. Foreign entities also accounted for about 44-percent of the countries' exports and contributed to 18-percent of tax revenue. The foreign entities, less than 3-percent of China's total companies, also created almost half of trade revenue and one fifth of fiscal 8 revenue."

Meanwhile, Chinese investments overseas are also improving in amount and quality, as China increases services and provides guarantee to innovation and overseas cooperation.

As Gao Feng said, China's investment overseas ranked second in the world in 2015 and 2016; by the end of last year, China's investment overseas totaled 5-trillion US dollars.

"From 2012 to 2016, China's contracted engineering projects overseas achieved a total turnover 9 of 710-billion US dollars, marking an annual average growth of 9-percent. China has become a major engineering contractor 10 in the world."

It is said Chinese enterprises from sectors 11 including steel, cement, and automobiles 12 are accelerating pace in building manufacturing bases overseas, spreading Chinese equipment, standards, and services to the world.

The Ministry of Commerce said they also have plans to further expand the effort to other sectors.

For CRI, I'm Guan Chao.