FDI into western China soars in January

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A monorail system is being installed in Guang'an city, in the southwest Sichuan province. Development of China's western provinces is a key focus of the Belt and Road Initiative. Photo: AFP

The business environment in China continues to improve, with the country attracting steady foreign investment inflows as Beijing eases market access, Xinhua reported Thursday.

Data released by the Ministry of Commerce on Wednesday showed that foreign companies newly established in China surged 158% in January year on year to the highest number since September 2015.

Foreign direct investment into western China, a key region in China’s Belt and Road Initiative, rose by 56.4% in the same period, the official data showed.

FDI into the high-tech sector accounted for 21.5% of the total, rising 42.3% year on year.

Investments from Singapore and the United States climbed quickly last month, recording growth of 56.6% and 52.2% year on year, respectively.

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