Employees work at a high-tech company in Xiamen, Fujian province. [Photo/WeChat account: xiamen_swj]
The actual use of foreign investment in Xiamen, Fujian province, was 10.85 billion yuan ($1.68 billion) in the first quarter of this year, an increase of 40.9 percent year-on-year, and accounted for 56.9 percent of the province's total.
The figure in March alone soared 50.7 percent, setting a record high.
Xiamen has expanded the actual use of foreign investment and optimized the structure of foreign investment utilization.
The actual use of foreign investment in the high-tech industry increased by 30.5 percent year-on-year, which mainly covers the electronic and communication equipment manufacturing sector, as well as research and development and design services.
The manufacturing industry used 2.6 billion yuan of foreign investment in the first three months, an increase of 23.2 percent, while the service industry used 8.25 billion yuan, up 47.6 percent.
The foreign investment from the countries and regions involved in the Belt and Road Initiative increased 4.9 times during the same period, mainly from Malaysia, Singapore, and Indonesia.
The actual use of foreign investment in Xiamen was largely influenced by major projects. Twenty-four Xiamen companies received more than $10 million in capital in the first three months. Their actual use of foreign investment was $1.44 billion, an increase of 38.5 percent year-on-year.
China has launched a new pilot program to allow eligible enterprises greater access to overseas financing in support of green and low-carbon transformation projects, the country's foreign exchange regulator said on Aug 21.
To further streamline the experience, China is expanding tax refund stores, broadening the range of refundable goods, and refining refund procedures, ensuring an efficient and seamless shopping experience for global visitors.
