China's FDI inflow tops 1 trillion yuan in first 11 months of 2021

Foreign direct investment (FDI) into China from January to November this year increased by 15.9 percent from the same period last year to 1.04 trillion yuan, or $157.2 billion, China's Ministry of Commerce (MOFCOM) said on Thursday.

Cross-border investment inflow into China's service sector increased by 17 percent year on year, while high-tech industries recorded a 19.3-percent jump in FDI inflow, MOFCOM data showed.

In terms of sources, the Belt and Road countries and the Association of Southeast Asian Nations invested 24.7 percent and 23.7 percent more into the Chinese mainland, respectively.

China has pledged to further shorten the negative list on foreign investment, facilitate services for foreign-funded enterprises and projects, and foster a law-based, international and convenient business environment to share its market opportunities globally.

The country has cut the overall tariff rate from 15.3 percent to 7.4 percent, lower than the 9.8 percent accession commitment to the World Trade Organization.

China also unveiled the negative list for cross-border trade in services at the Hainan Free Trade Port this year to promote investment liberalization and expand access for foreign investment.