China’s slowing economy is sparking stock market jitters worldwide. But none of this appears to be deterring foreign investors who continue to pour money into the country.
Foreign investment in China touched a record $126 billion in 2015, government news agency Xinhua reported on Tuesday citing official data.
China raked in $114 billion in non-financial investment in the first 11 months of last year, up 7.9% year on year, the Ministry of Commerce (MOC) said.
Nearly 24,000 foreign-funded business were also seeded in the first 11 months. This was 11% higher than in the same period in 2014.
China’s government also stepped up the flow of foreign capital to the service sector and advanced manufacturing, an official statement said.
Investment from major investor countries also remained stable last year. China’s free trade zones with preferential policies were also credited as major inducements for foreign capital inflows.
“Foreign investment increased at a relatively fast speed with improving quality against the background of a fierce global fight for capital and persistent downward pressure,” the MOC said.
In 2014, China amassed $119.6 billion in non-financial foreign investment, overtaking the US for the first time as the world’s largest foreign investment receiver.