China's non-financial direct investment up 16.7% in 2023

(ECNS) -- China's non-financial outbound direct investment rose 16.7 percent in RMB terms last year, said Wang Wentao, minister of Commerce at a press conference on Friday.

China's total retail sales of consumer goods hit a record high, while final consumption expenditure contributed 82.5 percent to China's annual economic growth in 2023. The market share of global goods exports remained stable at about 14 percent. The actual use of foreign capital soared to the third highest in history in terms of two-way investment last year. Overall, China's economy maintained stability in these areas and made positive contributions to the economic recovery in 2023, Wang said

The annual growth rate of online retail sales grew 11 percent, continuing a rapid growth, and annual growth rate of retail sales of services surged 20 percent last year, according to the minister.

China's import and export of intermediate goods accounted for 61.1 percent of the total foreign trade value, which remains at a historically high level. The imports and exports by private enterprises accounted for 53.3 percent of the total value of the imports and exports, increasing 3.1 percent last year.

In the e-commerce sector, the online retail sales of physical goods accounted for 27.6 percent of China's total retail volume, including a 19.6 percent increase of cross-border e-commerce exports last year. The number of newly-established foreign invested companies in China soared by 39.7 percent, showing their confidence in the future of China's economy.

China and four other countries signed free trade agreements to further opening up in 2023.