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Foreign-invested firms in China up 20.7% in Q1

The number of newly established foreign-invested firms in China hit 12,000 in the first quarter (Q1) of 2024, up 20.7 percent year on year, the Ministry of Commerce said on Friday.

In terms of the structure of foreign direct investment (FDI), the country's high-tech manufacturing sector attracted 12.5 percent of the FDI inflow in the first quarter, up 2.2 percentage points compared to that in the same period last year.

"FDI to service sectors that are closely related to people's lives also saw quick growth," said Guo Tingting, vice minister of commerce.

In Q1, the actual FDI in China stood at 301.67 billion yuan (about 42.46 billion U.S. dollars), which remained at a high level, Guo said at a press conference in Beijing.