(ECNS) - China has continuously improved its "going global" strategy and management system to ensure that the country’s outbound foreign direct investment (FDI) grows along with the best economic period in history, said a report by the China Council for the Promotion of International Trade (CCPIT).
CCPIT Academy, the research arm of the organization, said China’s FDI has grown at an average annual rate of 27.2 percent in the past 10 years to rank it among the largest foreign investment countries.
In 2017, the country’s FDI reached $124.63 billion, the third-highest in the world, as the global influence of Chinese capital grows stronger.
From a historical view, China’s FDI in 2016 - when GDP per capita reached $8,123 - was 9.28 times, 2.41 times, 9.45 times and 19.26 times higher than the United States, Britain, Germany and Japan when GDP per capita in those countries was $8,000.
China refined its foreign direct investment structure in 2015, shifting from resource acquisition to a focus on the global value chain and technology-oriented transformation. Although the FDI growth rate has slowed since 2015, its share in the world has risen to 10.14 percent, and with it an optimized investment structure and quality.
Zhao Ping, director of the CCPIT Academy, said at the press conference that China looks poised to become a strong country in terms of both attracting and delivering FDI by 2035.
The report also suggests improving institutional mechanisms for direct investment in other countries and establishing rules that are in line with international standards and reflect Chinese characteristics. China should also build a multinational enterprise group with international competitiveness and encourage it to play leading roles in investment and international division of labor.