China’s Foreign Investment in 2019 reached a New Record High amid stronger opening-up policies and better business environment, the Country’s Ministry of Commerce announced.

The Ministry issued the Statistical Bulletin of Foreign Direct Investment in China 2020 and Guidance on Foreign Investment at the third China International Import Expo (CIIE), which covers the overall Foreign Investment situation on the Chinese mainland for the whole year of 2019.

According to the bulletin, foreign investment attracted by the mainland hit a new all-time high last year, with the actual use of foreign capital totalling 141.23 billion U.S. dollars, up 2.1 percent year on year, ranking second globally in scale.

Number of Foreign Invested Enterprises Newly established in China last year reached 41,000

“In 2019, compared with previous years, China launched more opening-up measures which further expanded market access, optimized foreign investment policies, enhanced the rule of law, upgraded open platforms, and optimized the business environment,” said Zong Changqing, director of the foreign investment department at the ministry.

As for major sources of investment in terms of the actual amount, the top regions such as Hong Kong, Singapore, South Korea, Japan, and the United States all saw an increase in investment in China.

A total of 5,570 foreign-funded enterprises were newly set up on the mainland from countries along the Belt & Road, up 25.2 percent from the previous year.

In terms of sector, service industries such as sci-tech and information software posted rapid growth.

The Belt & Road is a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in nearly 70 countries and international organizations.