Foreign direct investment (FDI) into the Chinese mainland, in actual use, expanded 6.3 percent year on year to 1.23 trillion yuan in 2022, the Ministry of Commerce said Wednesday.
In U.S. dollar terms, the FDI inflow went up 8 percent year on year to 189.13 billion U.S. dollars
The Chinese economy is heading for strong growth in 2023, Vice President of the New Development Bank (NDB) Leslie Maasdorp said at the ongoing World Economic Forum (WEF) in Davos, Switzerland on Tuesday.
Maasdorp said in an interview with the Chinese media Xinhua that China’s recent decision to lift COVID-19 restrictions will drive economic growth, which in turn will have a snowball effect on other aspects of the economy such as consumption.
Although he predicted a “bumpy period” in the first quarter of this year, and potentially in the second, there are strong expectations for robust growth driven by consumption in the second half of the year.
With an economy of about 18 trillion U.S. dollars, China has an important role to play in the recovery of the global economy, he added.
China’s gross domestic product (GDP) grew 3 percent year-on-year to a record high of 121.0207 trillion yuan (18 trillion U.S. dollars) in 2022, data from the National Bureau of Statistics (NBS) showed Tuesday.
