Foreign-invested businesses newly established in China on rise

Tesla’s energy storage plant in eastern Shanghai’s Lin-gang Special Area broke ground on Thursday. [Photo provided to chinadaily.com.cn]

The number of newly established foreign-invested businesses in China hit 16,805 in the first four months of 2024, up 19.2 percent year-on-year, data released by the Ministry of Commerce showed on Friday.

The foreign direct investment in China stood at 360.2 billion yuan ($49.73 billion) between January and April, dropping 27.9 percent on a yearly basis, the ministry said in an online statement.

In terms of the FDI structure, the country’s manufacturing sector has attracted 103.69 billion yuan of foreign capital during this four-month period, up 2.8 percentage points in the whole FDI portfolio compared to that of the same period last year.

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