Current location:Stellar Standpoint news portal > world
Economic Watch: China remains popular destination for foreign investment
Stellar Standpoint news portal2024-04-30 06:46:25【world】5People have gathered around
IntroductionAerial 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. ■
Address of this article:http://pakistan.parkandlife.com/news-64a899846.html
Very good!(45832)
Previous: 8th Aswan int'l women film festival opens in Egypt
Next: China's sci
Related articles
- Finnish carrier suspends Estonia flights after GPS interference prevents 2 landings
- Xi calls on Chongqing to write its chapter in Chinese modernization
- Shanghai sides cruise to victories in CSL
- China's proactive opening up expands mutual dividends
- Emily Henry interview: The secret to having a healthy relationship with love
- Music Review: Anitta welcomes listeners into her 'Funk Generation' on new album
- Cultural events in Yanqing to mark Dragon Boat Festival
- WADA astonished by 'politically motivated' allegations against Chinese swimmers
- A bomb attack in northern Kenya kills 5 people near the border with Somalia
- 'Ice city' sees booming tourism
Popular articles
Recommended
Emily Henry interview: The secret to having a healthy relationship with love
Thousands rally in Madrid to urge Spanish leader Pedro Sánchez not to resign
Yokohama F. Marinos edge Shandong in ACL thriller
China's northernmost high
Chinese military ready to boost ties with Indonesian counterpart: defense spokesperson
China's top legislature concludes standing committee session
Flood relief work strengthened in China's Guangdong
Passage of harsh anti
Links
- Xi Calls on Young People to Promote World Peace, Development
- Chinese cities to see tourism peak in New Year's Day holiday
- Xinjiang's ski resorts draw growing crowds
- Snowfall in Beijing causes flight, train delays and personal injury
- Chinese mainland travelers to Hong Kong airport will be exempted from entry permits
- Xi Says China to Work with Pakistan to Build CPEC into Exemplary Project of High
- Xi Replies to Letter from Chinese Paratroopers
- International flight launched between Karachi, Islamabad, Beijing
- Chinese national among dead in Bangkok mall shooting
- China nets gold in men's synchro 3m springboard