China to continue stabilizing foreign investment amid challenges

BEIJING - China's commerce ministry said Thursday that it would continue stabilizing foreign investment and provide a better business environment and services to foreign companies.

"Influenced by multiple factors, China faces many challenges in utilizing foreign capital," Shu Jueting, spokesperson for the Ministry of Commerce, said at a press conference.

"But favorable factors that affect China's foreign investment have not changed," Shu added.

Foreign direct investment (FDI) into the Chinese mainland, in actual use, expanded 20.5 percent year-on-year to 478.61 billion yuan in the first four months of the year, data from the commerce ministry showed.

In US dollar terms, the inflow went up 26.1 percent year-on-year to $74.47 billion, said the ministry.

Shu has attributed the fast growth in FDI to the country's appealing market, opening-up endeavors, and an optimized business environment.

"China remains attractive to foreign investment as its economic fundamentals for long-term growth remain sound and unchanged. Foreign enterprises are optimistic about their long-term development prospects in the country," Shu added.