(Yicai Global) May 17 -- Foreign direct investment into China from the Belt and Road countries recorded substantial increase last month annually despite the overall FDI in the world’s second-largest economy edged down.
FDI in the Chinese mainland dipped 1.1 percent to CNY59.2 billion (USD9.3 billion) last month year-on-year. Whereas, foreign direct investment from the countries along the Belt and Road jumped 57.2 percent from a year earlier, showed data from the ministry of commerce today.
President Xi Jinping’s Belt and Road Initiative is a grand plan for a vast infrastructure and trade route boasting a major network of railroads, highways, ports and pipelines embracing the continents of Asia, Europe and Africa.
In the first four months of this year, FDI into China totaled about CNY287 billion, said Gao Feng, the spokesman for the ministry, in a press briefing today. Foreign investment in China’s high-tech industries, which accounted for nearly 21 percent of the total, surged just over 20 percent, he said.
High-tech manufacturing industry posted substantial FDI inflow, which jumped nearly 80 percent in the first four months of the year, Gao added.
China saw a total 19,000 newly-established foreign-invested enterprises in the country in the first four months, up 95.4 percent year-on-year. There were 4,662 foreign-invested enterprises settling in China last month, up 39.5 percent annually.
Editor: Mevlut Katik