SW.China's Yunnan Province sees rapid growth of foreign investment from RCEP members

Aerial photo shows a Fuxing bullet train running through Nanxihe grand bridge on the China-Laos Railway in southwest China's Yunnan Province, June 2, 2022. (Xinhua/Jiang Wenyao)

Southwest China’s border province Yunnan has witnessed outstanding achievements in the actual use of foreign capital in recent years, among which foreign investment from the Regional Comprehensive Economic Partnership (RCEP) countries has grown rapidly, the Department of Commerce of Yunnan Province told at a press conference on July 14.

In 2021, Yunnan Province saw a year-on-year increase of 235 percent in investment from the RCEP countries, of which investment from Japan and Singapore surged 543 percent and 208.35 percent year on year, respectively.

It is noted that Singapore has gradually expand its investment layout in Yunnan Province in recent years. For example, Fortune 500 companies including Wilmar International, Asia’s leading agribusiness group, and GLP, a leading investment manager and business builder in logistics, data infrastructure, renewable energy and related technologies, have investment plans in Yunnan.

In the past decade, Yunnan’s actual use in foreign capital has accumulated to 12.48 billion U.S. dollars. In 2021, a total of 337 foreign-funded enterprises were newly established in the province, with the actual use of foreign capital standing at 888 million U.S. dollars, up 17.07 percent yere on year, according to the Department of Commerce of Yunnan.