The Ministry of Commerce (MOFCOM) Photo: VCG
China is accelerating the introduction of new measures, including a revision of an industry catalog and a number of influential investment fairs, to stabilize foreign investment, the Ministry of Commerce (MOFCOM) said on Tuesday, noting that China remains an attractive destination for global investment contrary to "capital outflow" rumors hyped by foreign media.
China will accelerate the revision of the industry catalog to include more high-tech industries, in which foreign investments would be encouraged, as part of new measures to stabilize foreign investment, according to an official from the MOFCOM.
The revised version of the catalog aims to expand investment scales related to advanced manufacturing, scientific and technological innovation, and modern services, said Guo Tingting, the MOFCOM official.
In the first seven months of this year, the scale of foreign direct investment (FDI) in China maintained steady growth as a result of the coordinated work of epidemic control and economic development, Guo said.
"Foreign companies are still generally optimistic about the prospects of investment in China," Guo said.
China's actual use of foreign capital rose 21.5 percent year-on-year to $123.9 billion in the first seven months of this year, with investment from South Korea, the US and Japan seeing the fastest growth rates, according to the MOFCOM.
China's FDI maintained double-digit growth from last year's record high, which injected huge vitality into China's economic growth, and it also refuted rumors that foreign investment is leaving China, experts noted.
"Indeed, China's economy is facing temporary downward pressure from the real estate sector and extreme weather, but foreign investors put more value on market prospects. As long as China's economy can return to a normal track, foreign investors w ..
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