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A Robust Investment Destination: Foreign investors' confidence in China is on full display (4)

By Zhou Xiaoyan (Beijing Review)

09:11, September 19, 2012

Transition

Despite China's attraction for foreign investors, FDI growth in China is facing a gradual slowdown. It stood at 8 percent year on year in 2011, less than the global growth of 16 percent and an 11-percent growth in developing countries, according to the UNCTAD report.

The downward trend has yet to correct itself in 2012. From January to July 2012, newly established foreign-invested enterprises in China numbered 13,677, a year-on-year decline of 12.33 percent. During that period, FDI was $66.67 billion, a 3.64-percent year-on-year decrease, according to the Chinese Ministry of Commerce (MOFCOM).

Meanwhile, two major transitions are in the making when it comes to FDI in China: sector and location.

"The Chinese Government will further implement proactive policies to encourage and expand the use of foreign investment," said Wang Chao, Vice Minister of Commerce. "Moreover, the structure of FDI should be optimized and the level of utilizing FDI enhanced. FDI inflow will be steered into emerging new industries, the modern service sector, the hi-end manufacturing sector, the hi-tech sector, modern agriculture and energy-saving and environmentally friendly sectors."

On January 30, 2012, the National Development and Reform Commission and MOFCOM jointly promulgated the Catalogue for the Guidance of Foreign Investment Industries. The new catalogue encourages foreign investment into modern agriculture, advanced manufacturing, new energy and the modern service sector.

As China transfers industries from the more developed east coastal regions to the less developed central and western regions, FDI has followed suit.


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