China’s Ministry of Commerce issues development plan for FDI use

BEIJING — China”s Ministry of Commerce has issued a plan for the use of foreign direct investment in the 14th Five-Year Plan period (2021-2025).

The country will continue to boost high-level opening-up to attract global high-quality resources, the MOC said on Friday.

It has also pledged to improve the quality of FDI use while keeping the quantity stable.

The FDI will help further improve the industrial and supply chains while improving the business environment for foreign investors, it said.

China should rank among the top destinations globally in terms of the scale of FDI use and its position as a major country in FDI use should remain steady, it said.

The structure of FDI use should improve and the interaction of FDI with outbound direct investment, foreign trade and domestic consumption should grow during the period, the plan said.

In the 13th Five-Year Plan period, China used $698.9 billion of FDI, up 10.4 percent from the 12th Five-Year Plan period and setting a record high for the country.