BEIJING, July 17 (Xinhua) -- Foreign investment grow in China is expected to sustain its momentum, supported by industrial upgrading, technological innovation, continued opening-up efforts and economic resilience, China's State Administration of Foreign Exchange (SAFE) said Friday.
Data showed foreign investors' various types of investment in China recorded a net increase of about 160 billion U.S. dollars in the first five months of the year, significantly better than the same period last year.
The data also showed China's foreign investment structure has continued to shift toward higher-value and more innovation-driven sectors. In the first half of the year, foreign capital inflows into China's high-tech services and high-tech manufacturing sectors increased by 61 percent year on year, accounting for 36 percent of total capital inflows, up 11 percentage points from the same period last year.
The data indicates foreign investment in China has gradually shifted in recent years, from seeking the cost and scale advantages of "Made in China," to jointly participating in the development of "Created in China," said SAFE spokesperson Zhao Yuchao.
China's ongoing industrial transformation and advances in technological innovation are creating new investment opportunities and providing foreign investors with a more stable and attractive environment for long-term development, Zhao added.
The country's steady expansion of institutional opening-up, improved services and support mechanisms for foreign investors, and enhanced financial connectivity, are also expected to create more favorable conditions for overseas investment.
Meanwhile, amid growing global uncertainties, China's stronger economic resilience and stable yuan exchange rate will provide global investors with more options for diversified asset allocation, supporting continued confidence in the Chinese market, said Zhao.
SAFE intends to work with relevant departments to systematically advance reforms in the field of foreign investment, steadily improve the facilitation of cross-border investment and financing, and establish an institutional framework aligned with high-standard opening-up and high-quality development, to encourage more foreign investors to pursue long-term value-oriented investments in China. ■
