China's foreign investment for large projects up in first 5 months

BEIJING -- In the first five months of 2022, China received $47.68 billion in foreign capital for major foreign-funded projects each with a contracted investment of at least $100 million, up 40.3 percent year-on-year, data from the Ministry of Commerce showed on June 30.

The sum accounted for 54.3 percent of foreign investment in actual use nationwide in the five-month period, according to the data.

Shu Jueting, spokesperson for the ministry, said at a press briefing that a bevy of global firms have sped up their business expansion in China, which shows an unchanged confidence in the Chinese market and their long-term business prospects in China.

The ministry will continue to ramp up support for major foreign-invested projects and help address difficulties faced by enterprises, she said.