Minister: FDI flow based on market

By Zhong Nan and Cheng Yu | | Updated: 2017-02-21 15:28

Commerce Minister Gao Hucheng said opinions on withdrawal of foreign direct investment (FDI) in China are biased, as the market plays the key role in allocating global capital resources.

"FDI in any country comes and goes with the development of economy and the change of industry structure," Gao said.

He said the government has noticed that some low-end companies have left the country while high-end industries are starting to invest more in China, because the country is witnessing upgrading of both industrial and consumption structure.

As the total volume of global foreign direct investment sharply declined last year, China attracted nearly 813.2 billion yuan ($126 billion) in 2016, up 4.1 percent year-on-year.

FDI to pharmaceutical manufacturing business, medical equipment industry and high-tech services all saw a notable increase in absorbed foreign investment, surging 55.8 percent, 95 percent and 86.1 percent on a year-on-year basis, respectively.

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