Recently, the Ministry of Commerce released the "report card" of the national absorption of foreign investment in the first quarter. Data shows that from January to March this year, the actual use of foreign investment in China's high-tech industry reached 102.73 billion yuan, a year-on-year increase of 30.7%, further increasing the proportion of actual use of foreign investment in the country. Industry experts believe that this structural change highlights the significant effectiveness of China's innovation driven economy and is becoming a hot spot for investment in high-tech enterprises worldwide. Specifically, from January to March this year, 13987 foreign-invested enterprises were newly established nationwide, a year-on-year increase of 11%; The actual amount of foreign investment used was 249.6 billion yuan, a year-on-year decrease of 7.3%. From an industry perspective, the actual use of foreign investment in the manufacturing industry was 71.46 billion yuan, while the actual use of foreign investment in the service industry was 174.6 billion yuan. The actual use of foreign investment in high-tech industries was 102.73 billion yuan, a year-on-year increase of 30.7%, accounting for 41.2% of the country's actual use of foreign investment, an increase of 12 percentage points compared to the same period last year. Among them, the actual use of foreign investment in R&D and design services, computer and office equipment manufacturing, and electronic and communication equipment manufacturing increased by 127.8%, 88.1%, and 23.8% respectively. In response to this structural change, Professor Zhang Xiaotao from the School of International Economics and Trade at the Central University of Finance and Economics and Director of the International Investment Center told reporters that in recent years, foreign investment in high-tech fields has grown significantly, which is closely related to the orientation of China's economy driven by innovation and accelerating the development of new quality productive forces. He stated that China is not only the "world factory" in the global industrial chain, but also a strategic highland for excellent multinational enterprises to layout innovation, implement research and development, and deeply cultivate the market. Recently, the data provided by He Yadong, spokesperson for the Ministry of Commerce, also confirms this trend. According to statistics, by 2025, the actual use of foreign investment in scientific research and technological services in China will account for nearly one-fifth of the total actual use of foreign investment, and the proportion has steadily increased for seven consecutive years, which is 3.8 times that of 2018. In 2025, there will be 14000 newly established foreign-funded enterprises in this field, a year-on-year increase of 27.2%. The reporter noticed that China is still increasing its policy support for foreign-funded research and development centers. The new version of the Catalogue of Industries Encouraged for Foreign Investment, which came into effect on February 1st this year, further added encouraged items in areas such as new drug research and development and digital creative technology research and development. In February, the Ministry of Finance, Ministry of Commerce and other departments jointly issued a notice to continue exempting foreign research and development centers from import tariffs, value-added tax and consumption tax on imported scientific research supplies. Foreign funded research and development centers are an important component of China's innovation system. ”He Yadong said that in the next step, the Ministry of Commerce will work with relevant departments to attract more multinational companies to place their research and development activities in China, utilizing China's complete industrial system, high-quality talent reserves, and rich application scenarios to fully demonstrate their advantages and share development opportunities in promoting green, digital, and intelligent transformation in China. Looking ahead, industry experts believe that under the dual effects of China's economic development and favorable policies, the service industry will usher in new growth space in attracting foreign investment, especially the opening up of key areas will drive related industries to quickly enter the Chinese market. At the same time, high-tech enterprises in the manufacturing industry will continue to maintain a rapid development trend. (New Society)