Private firms drive nearly 60% of China's foreign trade growth in H1

(ECNS) -- Private enterprises contributed nearly 60% of China's foreign trade growth in the first half of this year, while foreign-funded and state-owned firms also posted double-digit increases, officials said at a press conference held by the State Council Information Office on Thursday.

Meng Huating, director general of the Department of Foreign Investment Administration at the Ministry of Commerce, said at the press conference that foreign direct investment in China's high-tech industry rose 33.2% year on year in the first half, accounting for 42.4% of total FDI — a record high.

She added that investment in the modern services sector made up 57% of total FDI during the period.

(By Tang Yuxian)