BEIJING – Foreign direct investment into China stood at 58.8 billion yuan ($9.2 billion), up 7.6 percent in May with respect to the same month in 2017, China’s Commerce Ministry said on Thursday.
The growth is in contrast with the 1.1 percent fall recorded in the month of April.
The number of foreign companies set up in the Asian giant in May surged 106.5 percent year-on-year, amounting to a total of 5,024 companies.
A total of 24,026 companies set up in China in the period between January and May, marking a growth of 97.6 percent as compared to the same period in 2017, allocating a joint investment of 345.59 billion yuan, up 1.3 percent year-on-year.
Investment in the high-tech sector accounted for a 20.5 share of the total and grew 9.8 percent in the first five months.
The FDI inflow into the high-tech manufacturing industry continued to see “relatively fast” growth, with year-on-year growth of 61.9 percent for the first five months, said ministry spokesperson Gao Feng at a press conference.
As for the geographical origin, he highlighted the capital inflow of the countries located along the “One Belt, One Road” infrastructure project initiated by the Chinese president, Xi Jinping.
Investment from these nations rose 38.8 percent from a year earlier.
On Thursday, China’s Commerce Ministry also provided the figure of domestic companies’ non-financial outbound direct investment overseas, which grew 38.5 percent year-on-year, to $47.89 billion.