Foreign investment into China has boomed since the start of 2022, despite global economic uncertainty in relation to the ongoing COVID-19 pandemic, as well as military conflict in Ukraine.
For the period from January to April China’s actually used foreign investment amount was 478.61 billion yuan, for year-on-year (YoY) growth of 20.5%, according to figures released by the Ministry of Commerce (MOFCOM) on 12 May.
Observers point out that the surge in actually used foreign investment comes following the setting of a high base figure in 2021, after the Chinese economy staged an early recovery from the COVID-19 pandemic.
The actually used foreign investment amount for the services sector during the first four months of 2022 was 351.94 billion yuan, for YoY growth of 12.5%.
Growth in actually used foreign investment for the hi-tech sector was 45.6%, including 36.7% growth for hi-tech manufacturing, 48.3% growth in hi-tech services, and 69.7% growth in information services.
Research and design services saw growth in actually used foreign investment of 60.4%, while the electrical and telecommunications equipment manufacturing sector saw an increase of 45.3%.
South Korea saw growth in its actual investment into China of 76.3%, while for the US the growth figure was 53.2%, and for Germany 80.4%.
China also saw the launch of 185 new foreign-invested projects worth over USD$100 million in the first four months of the year.