May 13 – The amount of foreign direct investment pouring into China increased by up to 59.32 percent to US$35.02 billion for the first four months of the year, reports the Ministry of Commerce. On the other hand, the number of approved foreign-funded companies decreased by 23.15 percent to 9,490 compared to the same period last year.

China has been implementing new measures to control foreign investment in the country. Recently, it standardized corporate income taxes for both foreign and local companies while also publishing a catalogue to attract foreign investment to high-tech or environment-friendly projects.

Zhang Hanya, director of the Research Institute of Investment with the National Development and Reform Commission, told Xinhua that the figures indicate that China remains the favored destination among foreign investors.

He added that although new policies on foreign investment and higher labor costs may have discouraged small foreign-funded companies, large companies have increased investment in the country due to the appreciation of the yuan.