China's FDI use surges for 2021

Employees work at the Tesla Gigafactory in Shanghai, Nov 20, 2020. [Photo/Xinhua]

China's actual use of foreign direct investment surged 31.5 percent on a yearly basis to 176.76 billion yuan in the first two months of the year, the Ministry of Commerce announced on Friday.

In US dollar terms, foreign capital inflows went up 34.2 percent year-on-year to $26.07 billion during the two-month period.

The country's service sector attracted 141.74 billion yuan of FDI from January to February, jumping 48.7 percent on a yearly basis and accounting for 80.2 percent of the country's total use of foreign investment.

In the meantime, FDI from economies related to the Belt and Road Initiative, the Association of Southeast Asian Nations and the European Union grew by 26.2 percent, 28.1 percent and 31.5 percent respectively on a yearly basis in China.