China sees more foreign-funded firms in Jan.-Nov.: commerce ministry

Photo taken on Jan. 7, 2020 shows China-produced sedans at Tesla's gigafactory in Shanghai, east China. (Xinhua/Ding Ting)

BEIJING, Dec. 30 (Xinhua) -- China's commerce ministry on Thursday reported a stable increase in the number of foreign-funded companies in the first 11 months of the year, adding to evidence of an improving business environment in the country.

The number of foreign-funded companies newly established in China in the January-November period came in at 43,370, rising 29.3 percent year on year, Gao Feng, a spokesperson with the Ministry of Commerce, told a press briefing.

During the period, China saw over 30-percent increases in the number of companies funded by investors from Japan, the Republic of Korea, and the United States, while the number of Europe-funded firms went up 28.9 percent from a year ago, according to Gao.

From January to November, the number of new foreign-funded enterprises in the manufacturing and service sectors rose by 24.1 percent and 30.1 percent, respectively, said Gao. High-tech companies increased by 25.4 percent from a year ago, accounting for 28 percent of the total number of newly established foreign-funded companies.