Despite COVID-19... China Records All-Time High Foreign Direct Investment of 214 Trillion Last Year

[Asia Economy Reporter Kim Min-young] China's Ministry of Commerce announced on the 13th that foreign direct investment (FDI) last year increased by 14.9% compared to the previous year, reaching a record high of 1.1493 trillion yuan (approximately 214 trillion won).

Su Jueting, spokesperson for China's Ministry of Commerce, stated this at the regular briefing held in the afternoon. He explained that the high-tech sector, in particular, grew by 17.1%.

However, amid intense strategic competition between the U.S. and China, often described as a new Cold War, the U.S. is making efforts to exclude China from global supply chains in advanced industries such as semiconductors, leading to a decline in investment in China in certain regions and sectors.

According to statistics from Taiwan's Ministry of Economic Affairs, Taiwan's investment in mainland China from January to November last year amounted to 4.79 billion dollars, a 14.5% decrease compared to the same period the previous year.

Meanwhile, spokesperson Su Jueting urged reconciliation regarding the U.S.-China economic and trade conflicts, saying, "The essence of the economic and trade relationship between the two countries is mutual benefit," and expressed hope that "the U.S. side will create a favorable atmosphere and conditions to expand bilateral trade cooperation."

Spokesperson Su Jueting emphasized, "After the U.S.-China Phase 1 trade agreement, China has made efforts to jointly implement it while overcoming various adversities such as the impact of COVID-19, global economic recession, and supply chain disruptions," and added that the negotiation representatives of both sides are still maintaining normal communication.

This content was produced with the assistance of AI translation services.