INP-WealthPk

China's FDI down 10.8 pct in Jan-March amid coronavirus outbreak impact

April 16, 2020

BEIJING,  (Xinhua) -- Foreign direct investment (FDI) into the Chinese mainland fell 10.8 percent year on year in the first three months of 2020 influenced by the novel coronavirus outbreak, a commerce official said Wednesday. 

The FDI totaled 216.19 billion yuan (about 31.2 billion U.S. dollars) in Jan.-March period, said the Ministry of Commerce. 

A breakdown of the data showed FDI decreased 14.1 percent year on year in March but the decline was 11.5 percentage points narrower than that in February. 

Foreign investment in high-tech services surged 15.5 percent year on year in the first three months, accounting for 29.9 percent of the service sector. 

China will seek further opening-up and upgrade of foreign trade and investment, to offset its economic shock brought about by the COVID-19 pandemic, according to the ministry earlier. 

To facilitate foreign investment, China will shorten the negative list on foreign investment, further open up the service sector and improve China's business environment.  ■