Commerce Minister Gao Hucheng says that China utilized about 118 billion U.S. dollars in foreign direct investments last year, increasing 5.3 percent year on year.
Gao also told reporters that China’s use of FDI isn’t changing but instead is being adjusted in structures and sectors. He noted that more than half of last year’s FDI went into the services sector which is now becoming an increasingly stronger force in its contribution to China's growth.
The commerce minister says China will continue to improve its investment environment and expand its already open sectors, especially services and manufacturing. That comes as recent research shows that 85 percent of overseas firms are profitable and 90 percent are willing to expand their investments in China.