Net FDI inflow to China rebounds in July to second-highest level in nearly a year: SAFE

The net inflow of foreign direct investment (FDI) to China rebounded in July, reaching the second-highest level in nearly a year, officials from the State Administration of Foreign Exchange (SAFE) said on Tuesday.

Wang Chunying, deputy director of SAFE, said that the capital inflow from overseas is gradually improving. The net inflow of cross-border capital for FDI in China has increased, with July seeing the second-highest net inflow in almost a year. Cross-border funds for securities investment in China also maintained a net inflow.

Wang noted that the domestic economic fundamentals continued to improve in July, and the exchange rate of the yuan against the US dollar has stabilized and recovered, leading to a basic balance of the supply and demand for foreign exchange in the domestic market.

Looking ahead, Wang said that the long-term economic fundamentals in China remain strong, and as growth policies continue to take effect, the Chinese economy is expected to continue its recovery trend.

As a testament to the confidence of foreign investors in China's development, several CEOs from foreign companies have recently visited China to meet with Chinese officials and express their unwavering belief in the country's growth.

For example, Vimal Kapur, CEO of Honeywell, said that China is an important base for research, production and sales for the company in a meeting with China's Minister of Industry and Information Technology Jin Zhuanglong on Tuesday.

Kapur said that Honeywell plans to deepen cooperation in China in the fields of intelligent manufacturing, emission reduction technology, and industry transformation and upgrading.

Lars Fruergaard J?rgensen, CEO of Novo Nordisk, on Tuesday also expressed the company's commitment to utilizing its core capabilities to lead and promote innovative drug research and development in Tianjin, at a meeting with local officials.

At a meeting on Monday with Zhang Yuzhuo, director of the State-owned Assets Supervision and Administration Commission of the State Council, Miguel Angel Lopez Borrego, CEO of ThyssenKrupp, emphasized the company's desire to increase cooperation with China's central enterprises in renewable energy development, carbon reduction, and digital transformation.