Lujiazui area in Shanghai Photo:Xinhua

A total of 24,018 new foreign-invested enterprises were established in China from January to May, a year-on-year increase of 10.4 percent, with the actual utilized foreign investment amounting to 358.19 billion yuan ($49.83 billion), according to data from China's Ministry of Commerce (MOFCOM) on Friday.

While total actual utilized foreign investment was down 13.2 percent year-on-year during the period, many sectors, especially high-tech industries, saw significant growth in foreign investment. 

According to the MOFCOM, actual utilized foreign investment in manufacturing reached 91.52 billion yuan, while the services sector amounted to 259.64 billion yuan. High-tech industries utilized 109.04 billion yuan in foreign investment, with e-commerce services up 146 percent, aerospace equipment manufacturing rising 74.9 percent, and chemical pharmaceuticals increasing 59.2 percent.

In terms of sources, investment from ASEAN into China grew by 20.5 percent, while investments from Japan, the UK, South Korea, and Germany increased by 70.2 percent, 60.9 percent, 10.3 percent, and 7.1 percent, respectively.

Also on Friday, Guo Jiakun, a spokesperson for China's Foreign Ministry, told a press conference that China's economy has forged steadily ahead, achieved high-quality growth and fostered new growth points amid a complex external environment, demonstrating strong resilience and potential, and it is now a stabilizer for the world economy and a magnet for sharing development opportunities. 

Guo's remarks came as a recent report released by the World Bank shows that China's economy maintained growth momentum in early 2025, and in response to global trade uncertainty, the government has implemented accommodative monetary and fiscal policies. Recently international institutions, such as J.P. Morgan and Goldman Sachs, have also revised up China's growth prospects.
 
Guo noted that in the first five months of this year, China's total imports and exports of goods increased by 2.5 percent year-on-year, and the total retail sales of consumer goods went up 5 percent. Shopping in China has become a buzzing trend among foreign travelers. In the first month after the policy of departure tax refunds was rolled out, application for departure tax refunds across the country surged by 116 percent year-on-year. Traveling to China visa free is expected to be a popular choice during the summer holiday, Guo said.

The spokesperson further noted that facts have shown that the fundamentals of China's long-term economic growth remain unchanged, the strengths of its mega-size market and complete industrial system remain unchanged, and its policy of pursuing high-quality development and high-standard opening-up remains unchanged. This is the source of the world's confidence in China's growth forecast and their determination to invest in China and further explore China's market, Guo said.

"We will remain firmly committed to opening our market wider to the world, foster new driving forces, create new opportunities, and enable the world to benefit from China's steady growth and draw impetus for common development," Guo noted.


Global Times