China continued to attract more foreign capital in the first month of this year, after a record 2020, when it overtook the US as a major destination for foreign direct investment (FDI).
Foreign capital inflows into the Chinese mainland reached 91.61 billion yuan ($14 billion) in January, marking a 4.6 percent increase year on year, according to the data released earlier this week by the Ministry of Commerce. In US dollar terms, FDI jumped by 6.2 percent compared to a year earlier, reaching $13.47 billion, the ministry said in a statement.
Tertiary industry gained most of the fresh cash inflows, amounting to nearly 75 percent of FDI. And the coronavirus pandemic has not stopped China from attracting record-high levels of foreign capital in 2020. FDI in US dollar terms, excluding financial and insurance sectors, rose to $144.37 billion last year – the highest level since records began in 1983.
Global investors have been boosting investment into China for several consecutive years in a row. While the pandemic wreaked havoc in global markets and crushed global FDI flow by around 40 percent, China became one of the few exemptions from the trend, according to a recent report by the UN trade agency. The increased foreign inflows allowed it to outpace the US as the top destination for new foreign direct investment.
Thanks to rapid recovery from the coronavirus crisis, China – which was the first country to face the outbreak of the deadly virus – became the only major economy to avoid contraction in 2020. The pandemic might have accelerated a major shift in the global economy, as China is now projected to overtake the US as the world’s largest economy sooner than initially expected, by 2028, according to the UK-based Centre for Economics and Business Research.
China continued to attract more foreign capital in the first month of this year, after a record 2020, when it overtook the US as a major destination for foreign direct investment (FDI). Read Full Article at RT.com Read More
No one can ever claim that the notion of Trump-Russia “collusion” and the Mueller investigation were downplayed or ignored by the press. It was the opposite. The story was enormous and incessant. Rich Noyes of the Media Research Center found that from Jan. 20, 2017, through July 20, 2019, the evening newscasts at ABC, CBS […]
Tusk will import the same old EU unsuccessful policies into Poland as fast as he can. As it was expected, after its inauguration as Polish Prime Minister, Globalist-liberal Donald Tusk moved to swiftly turn his country away from the populist-nationalist policies of the last 8 years, towards a vision of the world as espoused by […]
During an interview Tuesday, Presidential candidate Robert F. Kennedy Jr. once again directly accused the CIA of killing President John F. Kennedy, his uncle, and then engaging in a “60-year coverup”. During the interview on Hannity, RFK Jr. stated “There are millions of pages of documents; CIA documents, of transcripts, of recorded conversations from the Cuban embassy […]
