Your current location:HOME >travel >Economic Watch: China remains popular destination for foreign investment 正文
TIME:2024-05-21 09:49:21 Source: Internet compilationEdit:travel
Aerial photo taken on Dec. 28, 2021 shows the new Tiexi Plant of BMW Brilliance Automotive (BBA) und
Aerial photo taken on Dec. 28, 2021 shows the new Tiexi Plant of BMW Brilliance Automotive (BBA) under construction in Shenyang, northeast China's Liaoning Province. (Xinhua/Yang Qing)
BEIJING, Feb. 21 (Xinhua) -- China remains a hot spot for foreign investment, as business operators' opinions resonate with the country's official data.
Foreign direct investment (FDI) into the Chinese mainland, in actual use, expanded 14.5 percent year on year to 127.69 billion yuan in January, the Ministry of Commerce said Monday. In U.S. dollar terms, the FDI inflow went up 10 percent year on year to 19.02 billion U.S. dollars.
High-tech industries saw a rapid FDI increase of 62.8 percent in January. Specifically, foreign investment in high-tech manufacturing surged 74.5 percent, while that in the high-tech service sector rose 59.6 percent.
In Shenyang, the capital city of Liaoning Province in northeast China, the five millionth car produced by BMW Group's joint venture in China, BMW Brilliance Automotive Ltd. (BBA), rolled off the production line on Monday.
The five millionth car is an all-new pure electric BMW i3 eDrive40L, which shows that BMW is ready for the electric era in China's automotive industry, said Franz Decker, the president and CEO of BBA, in an interview.
The company said BMW sold about 42,000 pure electric vehicles in China in 2022, up 91.6 percent from the previous year.
In south China's Guangdong Province, ExxonMobil's mega-investment project in Huizhou made new progress in February as it completed the hoisting of heavy equipment and started the construction of a technology center.
The ExxonMobil Huizhou Ethylene Project, with a total investment of about 10 billion U.S. dollars, has seen the smooth construction of the first-phase project and the preparatory work of the second-phase project.
It is ExxonMobil's first integrated center of its kind outside the North American headquarters with a pilot plant, product development, and process development, which can serve to meet the growing market and technology needs of the Asia Pacific region, according to Fernando Vallina, chairman of ExxonMobil (China) Investment Co., Ltd.
"We believe that Guangdong has a highly business-friendly environment. The government is very experienced. We will continue investing here with our model. It's not to build just one plant; it is to build first a complex and then keep on adding faces, keep on investing for many years," said Vallina.
Data show that the total amount of funds in place for the whole project reached 1.42 billion U.S. dollars, and the accumulative investment in fixed assets reached 17.55 billion yuan (around 2.55 billion U.S. dollars) by the end of 2022.
"China is the biggest market in the world for chemicals. It is the second-largest economy in the world. So it's a vitally important market for us. We believe that to be successful globally, it's imperative to be successful in China," said Vallina.
GE Healthcare China President and CEO Zhang Yihao said the strong resilience and vitality of the Chinese economy and the opportunities for China to further open up at a higher level strengthened the company's confidence in deep-rooted development in China.
FDI flowing into China's central region reported a year-on-year expansion of 25.9 percent in January, followed by 21.6 percent in the western region.
Shu Jueting, a spokesperson for the commerce ministry, said on Thursday at a press conference that China will always adhere to open cooperation and provide opportunities for the world through its own development.
Foreign businesses will enjoy more opportunities in China's enormous markets, institutional opening-up, and deepened international cooperation, Vice Minister of Commerce Sheng Qiuping has said. ■
US overdose deaths dropped in 2023, the first time since 20182024-05-21 09:26
Divisive? Not for moviegoers. ‘Civil War’ declares victory at box office.2024-05-21 09:05
City in E China's Anhui transforms abandoned mining site into thriving tent hotel2024-05-21 08:52
China records its first use of terrestrial cable for power transmission between islands2024-05-21 08:37
California congressman urges closer consultation with tribes on offshore wind2024-05-21 08:33
New Year wishes from quake2024-05-21 08:02
Dog owners to shoulder all responsibility if banned large dog injures someone: top court2024-05-21 07:40
China offers winter comfort to people in need2024-05-21 07:28
The government wants to buy their flood2024-05-21 07:27
China steps up efforts to improve legal services for disabled people2024-05-21 07:09
Biden says Brown v. Board of Education ruling was about more than education2024-05-21 09:37
Cold wave continues to wreak havoc2024-05-21 09:27
Earthquake leaves 13 dead in China's Qinghai2024-05-21 08:57
Tsitsipas sweeps aside Ruud to win Monte Carlo Masters for the third time, and then weeps2024-05-21 08:56
Pope trip to Luxembourg, Belgium confirmed for September, 2 weeks after challenging Asia visit2024-05-21 08:45
Basketball games boost rural development, foster sports culture2024-05-21 08:10
Cable car accident: 174 people stranded in the air rescued in Turkey2024-05-21 07:56
Excitement builds in Leverkusen ahead of expected Bundesliga title win2024-05-21 07:48
Insider Q&A: CIA's chief technologist's cautious embrace of generative AI2024-05-21 07:14
Dog owners to shoulder all responsibility if banned large dog injures someone: top court2024-05-21 07:03