Foreign direct investment (FDI) in mainland China reached 412.5 billion yuan (approximately $57.94 billion) during the first five months of 2024.

The Ministry of Commerce of China announced in a statement today that this figure represents a 28.2 percent decrease compared to the same period last year, but emphasized that the volume of foreign investment remains at a historically high level.

Despite the decline, 21,764 new foreign-invested enterprises were established across China from January to May 2024, marking a 17.4 percent increase.

The manufacturing sector attracted 28.4 percent of total FDI inflows, amounting to 117.1 billion yuan, an increase of 2.8 percent compared to the same period last year. This indicates continued improvement in the investment structure. Additionally, FDI inflows into smart consumer equipment manufacturing and professional technical services rose by 332.9 percent and 103.1 percent year-on-year, respectively.
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