China saw around 59,000 newly established foreign-invested enterprises in 2024, up 9.9 per cent year on year, according to a statistical bulletin released Tuesday.

The actual use of foreign capital reached 116.24 billion US dollars last year, sustaining China’s position as the largest recipient of foreign capital among developing economies, according to the report released by the Ministry of Commerce at the 25th China International Fair for Investment and Trade in Xiamen.

The structure of foreign investment in China continued to improve, with high-tech industries accounting for 34.6 per cent of the total foreign capital.

The top 15 source countries and regions remained largely stable, contributing 112.28 billion US dollars, or 96.6 per cent of the actually utilised foreign capital.

The report indicated that foreign-invested enterprises contributed significantly to China’s economic and social development in 2024, with their total import and export values reaching about 1.8 trillion US dollars, accounting for 29.2 per cent of the country’s total foreign trade.