OECD EXPERTS: LAST YEAR, CHINA BECAME THE WORLD'S LARGEST INFLOW OF FOREIGN INVESTMENT
ACCORDING TO XINHUA NEWS AGENCY, PARIS, MAY 3 (REPORTER LIU FANG), MARGIT MORNER, DIRECTOR OF THE CHINA POLICY RESEARCH OFFICE OF THE ORGANIZATION FOR ECONOMIC COOPERATION AND DEVELOPMENT (OECD), SAID IN AN INTERVIEW WITH XINHUA NEWS AGENCY ON THE 3RD THAT THANKS TO THE EFFECTIVE CONTROL OF THE COVID-19 AND THE ACCELERATED OPENING UP OF MANY INDUSTRIES, CHINA OVERTOOK THE UNITED STATES LAST YEAR TO BECOME A GLOBAL INFLOW COUNTRY OF ********* FOREIGN CAPITAL. CHINA'S GOOD GROWTH PROSPECTS AND FURTHER OPENING UP MEASURES WILL HELP CHINA CONTINUE TO ATTRACT FOREIGN CAPITAL INFLOWS.THE DATA RECENTLY RELEASED BY THE OECD SHOWS THAT DUE TO THE IMPACT OF THE EPIDEMIC, THE TOTAL SCALE OF GLOBAL FOREIGN DIRECT INVESTMENT (FDI) IN 2020 WAS 846 BILLION US DOLLARS, A DECREASE OF 38% FROM THE PREVIOUS YEAR AND THE LOWEST LEVEL SINCE 2005. AMONG THEM, THE INFLOW OF FDI INTO CHINA INCREASED TO 212 BILLION US DOLLARS AGAINST THE TREND, WITH A GROWTH RATE OF 14%; THE INFLOW OF FDI INTO THE UNITED STATES WAS $177 BILLION, A DECREASE OF 37%.MORNER SAID THAT AFTER THE EPIDEMIC WAS BROUGHT UNDER CONTROL, THE CHINESE ECONOMY QUICKLY RESUMED GROWTH, MAKING CHINA A MORE REALISTIC DESTINATION FOR FDI. THE FURTHER INCREASE IN OPENNESS IS ANOTHER IMPORTANT FACTOR FOR CHINA TO ATTRACT FOREIGN INVESTMENT. ACCORDING TO OECD DATA, FROM 2019 TO 2020, CHINA HAS REDUCED RESTRICTIONS ON FOREIGN DIRECT INVESTMENT, MOST NOTABLY IN THE FINANCIAL SERVICES SECTOR, WHILE FOREIGN INVESTMENT RESTRICTIONS IN THE MANUFACTURING, AGRICULTURE, AND CONSTRUCTION INDUSTRIES HAVE ALSO BEEN RELAXED.MORNER POINTED OUT THAT THE PROPORTION OF CHINA'S FDI STOCK TO GDP IS STILL RELATIVELY LOW, AND THERE IS STILL GREAT ROOM FOR GROWTH IN ATTRACTING FOREIGN INVESTMENT.