China’s foreign direct investment (FDI) registered steady growth in the first quarter (Q1) of 2023, as per data released by the country’s ministry of commerce. In the January-March period, the FDI inflow in actual use grew by 4.9 per cent year-on-year (YoY) to 408.45 billion yuan (around $59.2 billion).

More than 10,000 new foreign-invested companies were established during the first three months of 2023, representing a 25.5 per cent increase compared to the same period last year.

Investment from France and Germany increased by 635.5 per cent YoY and 60.8 per cent YoY, respectively, during the January-March period. Meanwhile, FDI from the UK, Canada, Japan, Switzerland, and South Korea also recorded significant growth. FDI from countries along the Belt and Road increased by 27.8 per cent during this period.

China has recently been announcing new measures to shorten the negative list for foreign investment. Over the past few years, attempts have been made to assess the impact of the list and gain insights into the requirements of foreign-funded companies, according to the National Development and Reform Commission.

The country welcomes more multinational companies to tap into the Chinese market, expand their investment, and grow along with China’s economic development, local media reports said quoting Chinese vice premier He Lifeng earlier this month.

Fibre2Fashion News Desk (NB)

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China's FDI inflow for Q1 2023 up 4.9% YoY

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