Xiamen's actual use of foreign capital rises 28.5% from Jan-Nov

The actual use of foreign capital in Xiamen, Fujian province reached 14.95 billion yuan ($2.28 billion) from January to November, a year-on-year increase of 28.5 percent, ranking first in the province, according to statistics released by the city's commerce bureau.

Statistics show that Xiamen's actual utilization of foreign capital in the first 11 months of the year accounted for 47.2 percent of the province's total volume, 5.2 percentage points higher than the same period last year.

The service sector became the main recipient of foreign capital in Xiamen. Statistics show that foreign direct investment in the service sector was 9.23 billion yuan from January to November, rising 56.1 percent year-on-year and accounting for 61.7 percent of the city's total.

Foreign investment from China's Hong Kong rose 47.8 percent year-on-year, accounting for 65.8 percent of the city's total.

These achievements are mainly due to the local government's efforts to increase the quality of the business environment and attract more foreign investment.

An array of supportive measures such as specific implementation plans and notices on stabilizing foreign investment were released this year, aiming to mitigate the effects of the COVID-19 epidemic and bring about a rapid economic recovery.

Additionally, the city has made diligent efforts to promote investment by hosting a number of online and offline fairs, such as the 13th Cross-Strait (Xiamen) Cultural Industries Fair, China International Fair for Investment & Trade, and 2020 Xiamen International MICE Week.