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
For the past several years, Iran has been subject to “crippling” oil-export sanctions, but that is news to China whose imports of Iranian oil have held above half a million barrels per day on average for the last three months, traders and ship-tracking firms told Reuters as Chinese buyers judge that getting crude at cheap […]
Lincoln Project Co-Founder Resigns Amid Weaver’s “Grotesque, Sickening” Behavior Authored by Ivan Pentchoukov via The Epoch Times, Jennifer Horn resigned from the Lincoln Project, which she co-founded, on Friday, according to a statement from the organization. “Upon careful consideration, I have terminated my relationship with the Lincoln Project, effective immediately,” Horn told the New York […]
(Natural News) We’ve seen HPV vaccines cause spontaneous abortions, still births and miscarriages. Somehow, mothers still let their girls as young as nine get the deadly, maiming HPV jab. We’ve watched the vaccine industry insert human abortion cells into vaccines to conjure up severe immune reactions that are extremely dangerous, including to the reproductive system of… […]
