Predictions of foreign investment slump prove to be wide of the mark

Those who have been predicting China's trade and investment would slump as a result of the trade confrontation with the United States have obviously underestimated the resilience of the Chinese economy.

The latest data from the Ministry of Commerce show that foreign investment on the Chinese mainland continued to expand in July, reflecting sustained investor confidence in the economy despite the uncertainties arising from the trade conflict and the global growth slowdown. In July, foreign direct investment in the mainland was 54.82 billion yuan ($7.76 billion), up 8.7 percent year-on-year. And from January to July, it increased by 7.3 percent year-on-year. Likewise, the number of newly established foreign enterprises on the mainland continues to grow, with 24,050 registered in the first seven months, up from 20,131 in the same period last year.

Clearly, international investors remain confident in the world's second-largest economy more than one year after the US launched a trade war against China. The investment made by enterprises from Germany and the Republic of Korea, for instance, rose by an impressive 72.4 percent and 69.7 percent.