China reports rise in number of new foreign firms in first eight months of 2024

BEIJING (WAM)

A total of 36,968 new foreign-invested firms were established across China in the first eight months (Jan-Aug) 2024.

This marks an 11.5 percent year on year increase, the Ministry of Commerce said on Friday, Xinhua reported.

During this period, foreign direct investment (FDI) in the Chinese mainland, in actual use, totaled 580.2 billion yuan (about $81.7 billion).

This is a 31.5 percent drop from a year earlier, according to the ministry.

The hi-tech manufacturing sector attracted 12.4 percent, or 72.1 billion yuan, of the total FDI inflow, up 1.9 percentage points from the same period last year.

Notably, FDI inflows into medical equipment manufacturing and instrument and meter manufacturing surged 77.8 percent.

As for inflows into computer and office device manufacturing, the figure grew by 33.9 percent during this period.