Fujian's FDI inflow up 12.6% in Jan-July

Foreign direct investment into Fujian province in actual use surged 12.6 percent year-on-year to 25.12 billion yuan ($3.87 billion) in the first seven months of this year, according to the Fujian Provincial Department of Commerce. 

This is an increase of 36.3 percent from the same period in 2019.

Actual use of FDI in the province's high-tech industrial sectors maintained a high growth rate of 51 percent. Among them, investments in R&D and design services, medical equipment and instrument manufacturing, and commercialization of sci-tech achievements surged 1,067.2 percent, 212.2 percent, and 93.4 percent, respectively.

Actual use of FDI in the service industry jumped 52.2 percent year-on-year, accounting for 68 percent of the total, an increase of 0.7 percentage points from the first half of this year. Major investment recipients in this regard included Pupu Technology, an online shopping platform that offers 30-minute delivery, and Meitu, an image processing platform.

In addition, investment from some developed countries expanded significantly, with Japan's actual investment increasing by 1719.1 percent and Singapore's increasing by 72.3 percent.

Key projects accounted for nearly 80 percent of the total FDI. Fifty-five foreign-funded enterprises, an increase of 14 from the same period last year, received an investment of over 100 million yuan, and 11 of them received an investment of over 500 million yuan.