Foreign direct investment (FDI) into the Chinese mainland, in actual use, surged 28.7 percent year on year to 607.84 billion yuan, or 90.96 billion U.S. dollars, in the first half of this year. The value increased 27.1 percent from the same period in 2019.
Foreign investment in the service industry came in at 482.77 billion yuan during the period, up 33.4 percent year on year, with foreign investment in the high-tech services sector rising 42.7 percent.
Investment from the countries along the Belt and Road expanded 49.6 percent, and investment from the Association of Southeast Asian Nations and the European Union rose 50.7 percent and 10.3 percent, respectively, in H1.
Foreign investment used by China’s eastern, central and western regions increased by 29.7 percent, 33.6 percent and 6.1 percent, respectively.
As for foreign trade, the first half of the year posted the best performance in its history, underpinned by the country’s sustainable economic recovery and strong global demand. The country’s foreign trade rose 27.1 percent year on year to 18.07 trillion yuan (about 2.79 trillion U.S. dollars) in the first six months based on data from the General Administration of Customs (GAC). The growth marks an increase of 22.8 percent from the pre-epidemic level in 2019.
Exports jumped 28.1 percent from a year earlier, while imports climbed 25.9 percent in yuan terms. In June alone, the country’s imports and exports went up 22 percent year on year to 3.29 trillion yuan, marking an increase for the 13th month in a row, the data showed.
China’s sustained economic recovery pushed production and demand, which has laid a solid foundation for the growth of the country’s foreign trade, GAC spokesperson Li Kuiwen told a press conference. Global economic recovery also led to an uptick in global trade and exports. The top top three trading partners — the Association of Southeast Asian Nations, European Union, and the United States — maintained sound growth in the first half of the year.
During the period, the growth rates of China’s trade value with the three trading partners stood at 27.8 percent, 26.7 percent and 34.6 percent, respectively. Trade with countries along the Belt and Road rose 27.5 percent year on year to stand at 5.35 trillion yuan, while trade with countries of the Regional Comprehensive Economic Partnership grew 22.7 percent year on year, the data showed.
Cross-border e-commerce also maintained steady expansion in the first six months, with the total trade value growing 28.6 percent year on year to reach 886.7 billion yuan. As COVID-19 keeps wreaking havoc in many parts of the world, Li warned that the country’s foreign trade faces uncertainties in a complex global epidemic environment. For the second half of the year, China’s foreign trade growth may slow down due to a high base last year, adding that the foreign trade for the whole year is still expected to maintain rapid growth.
a slew of measures has been taken by the State Council to guarantee the supply of bulk commodities and prices are kept stable, if the need arises the Government will unleash policies to ensure the market maintains stability.
