China’s actual use of foreign capital continues to grow amid the coronavirus pandemic and increasingly complex and challenging conditions both at home and abroad, and the country remains a top choice for foreign investors.
In the first 10 months of the year,the actual use of foreign investment in China grew by 6.4 percent year-on-year to 800.7 billion yuan, or 3.9 percent to $115.1 billion in dollar terms, the Ministry of Commerce (MOFCOM) said on Nov. 16.
The actual use of foreign investment in China expanded 18.3 percent year on year to 81.9 billion yuan in October. This marked the seventh consecutive month that the country has seen positive growth in FDI.
Such achievements are attributed to China’s determination and actions taken to further open up, and to the fact that China has taken the lead in effectively controlling the epidemic and ensuring enterprises can operate normally, said economist Song Qinghui.
Song noted that the vast Chinese market’s ability to offer more cooperation and development opportunities to international partners is another reason behind the country’s growth of foreign capital inflows.
On the same day, the construction of the Starbucks China Coffee Innovation Park officially began in the Kunshan Economic and Technological Development Zone in Kunshan city, east China’s Jiangsu province.
The global coffee chain announced the project, its largest manufacturing investment outside the United States, in March this year, and committed $156 million to it at the groundbreaking ceremony.