China's FDI inflow dips 1.1 percent in April but edges up January-April.
China's foreign direct investment fell in April but the FDI inflow edged up in January to April, with capital going into high technology industries growing rapidly.
FDI into the Chinese mainland fell 1.1 percent year on year to 59.24 billion yuan (US$9.3 billion) last month, and the number of newly-set up foreign companies in the mainland rose 39.5 percent year on year to 4,662, data from the Ministry of Commerce showed yesterday.
In the first four months of this year, the total number of newly-formed enterprises funded by foreign investors jumped by 95.4 percent to 19,002, while foreign funds that were actually used added 0.2 percent from a year ago to 286.78 billion yuan.
Gao Feng, a ministry spokesman, highlighted the rapid growth capital invested in high-tech manufacturing.
"The high technology industries post a 20.2 percent year-on-year rise in actual use of foreign investment in January to April, accounting for 20.8 percent of the total FDI amount," Gao said. "FDI in the high-tech manufacturing sector increased heftily by 79.5 percent from the same period a year ago to 29.6 billion yuan."
Pharmaceutical manufacturing, electronic and telecommunication equipment manufacturing, and the medical instrument making industry posted year-on-year FDI growth of 31.1 percent, 70.7 percent and 513.6 percent respectively, the data showed.
Around 30.11 billion yuan were actually invested in high-tech services during the four months, with research and development and designing services growing 14.3 percent from the same period last year.
Investments from Singapore, South Korea, Japan, the UK and Macau grew 53.6 percent, 57.2 percent, 7.6 percent, 63.2 percent and 77.3 percent respectively from a year ago, Gao pointed out.
"FDI from the Association of Southeast Asian Nations rose 57.7 percent, and investment from countries along the Belt and Road was up 57.2 percent in the first four months from the same period of last year," Gao added.
FDI in China's central regions surged 47.2 percent from a year earlier to 21.12 billion yuan and the western regions lured 19.31 billion yuan, up 20.6 percent, according to the ministry.
China's outbound direct investment in the four-month period grew steadily, up a robust 34.9 percent to US$35.58 billion, according to the ministry.
In the first four months, ODI was channeled to leasing and business services, mining, manufacturing, and information transmission, software and information technology services sectors.
Chinese enterprises have invested US$4.67 billion in countries along the Belt and Road from January to April, an increase of 17.3 percent from the same period last year, the ministry said.