China to continue stabilizing foreign investment amid challenges

Photo taken on Jan. 14, 2021 shows a night view of Lujiazui in Pudong of east China's Shanghai Municipality. (Xinhua/Fang Zhe)

BEIJING, May 19 (Xinhua) -- China's commerce ministry said Thursday that it would continue stabilizing foreign investment and provide a better business environment and services to foreign companies.

"Influenced by multiple factors, China faces many challenges in utilizing foreign capital," Shu Jueting, spokesperson for the Ministry of Commerce, said at a press conference.

"But favorable factors that affect China's foreign investment have not changed," Shu added.

Foreign direct investment (FDI) into the Chinese mainland, in actual use, expanded 20.5 percent year on year to 478.61 billion yuan in the first four months of the year, data from the commerce ministry showed.

In U.S. dollar terms, the inflow went up 26.1 percent year on year to 74.47 billion dollars, said the ministry.

Shu has attributed the fast growth in FDI to the country's appealing market, opening-up endeavors, and an optimized business environment.

"China remains attractive to foreign investment as its economic fundamentals for long-term growth remain sound and unchanged. Foreign enterprises are optimistic about their long-term development prospects in the country," Shu added.