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Official data released by China's State Administration of Foreign Exchange showed that various types of foreign investment in China recorded a net increase of about $160 billion in the first five months of this year, a much better performance compared to the same period last year.

The authority expected foreign investment in China to maintain its growth momentum, supported by industrial development and technological innovation, along with continued opening-up efforts and economic resilience.

The data showed that the structure of foreign investment in China continued to shift towards higher-value and more innovation-dependent sectors, as foreign capital inflows into the services and high-tech manufacturing sectors in the first half of this year increased by 61% year-on-year, accounting for 36% of total capital inflows, up 11 percentage points from the same period last year.

A spokesperson for the authority told China's Xinhua News Agency, Zhao Yuechao: 'Foreign investment in China has gradually shifted in recent years from seeking cost and scale advantages under the framework of 'Made in China' to participating in the development of 'Created in China.'

He added that the ongoing industrial transformation and progress in technological innovation in China are creating new investment opportunities and providing foreign investors with a more stable and attractive environment for long-term development.