China is expected to attract over 1 trillion yuan of foreign investment in 2021, according to the Ministry of Commerce (MOC).
In U.S. dollar terms, foreign investment is forecast to exceed 160 billion U.S. dollars, said MOC official Zong Changqing at a press conference, XINHUANET reports.
While commending the better-than-expected foreign investment situation since the beginning of the year, Zong said that China still faces severe challenges considering the evolving COVID-19 pandemic, reconstruction of global industrial supply chains, and non-financial factors including decoupling and barrier-setting.
Zong also pointed out that a continuous and stable economic recovery, an ultra-large market, a complete industrial supporting capacity, sufficient human resources and good infrastructure will help China lure more foreign investment.
The latest survey conducted by the MOC of over 3,000 key foreign companies in China showed that 93.3 percent of these companies are optimistic for their future development.
Among the surveyed key foreign enterprises in China, 99 percent said they had no plan to reduce investment or leave the market, Zong said.
As bm.ge previously reported, India (+13%) and China (+4%) were the only two developing countries that saw FDI rising during pandemic 2020, while almost the rest of the world, including developed economies such as Australia and the US, saw sharp declines. Moreover, in 2020 China (US$$163 billion) overtook the US (US$134 billion) as the largest recipient of FDI globally.
