China Attracts $130bn in Non Finance Investment

The Ministry of Commerce held a national conference on Monday to wrap up China’s trade and commerce for this year.

Commerce Minister Gao Hucheng said at the conference that China attracted foreign investment of about nearly 130 billion US dollars in non-finance sectors during the year. That ranks China first among developing countries for a 25th straight year.

Meanwhile, China’s non-finance investment in foreign countries increased 55 percent in the first 11 months of this year.

In addition, the ministry said that there were 117 trade remedy cases brought against Chinese companies this year. That’s about one complaint against China every three days.

Nearly 14 billion US dollars worth of products were affected.

Steel and solar panels were two major sectors targeted in the trade disputes.

The ministry said trade conditions in 2017 may be even more challenging.

“Politically, a lot of western politicians have made many comments about protectionism. They claimed to impose a 45-percent tariff on Chinese goods, and list China as a currency manipulator,” said Wang Hejun, Bureau Chief, Bureau of Trade Remedy Investigation, Ministry of Commerce.