CHENGDU, Jan. 16 (NBD) -- China's actual use of foreign capital in 2016 hit 118 billion US dollars (not including data in bank, securities and insurance sectors), up 4.1% year on year, according to data released by China's Ministry of Finance (MOF).

According to MOF, newly-established foreign enterprises reached 27,900 in 2016, up 5% year on year.

In Dec. 2016 alone, 3545 foreign-invested enterprises were founded, an year-on-year increase of 21.1%. The actual use of foreign investment amounted to 81.42 billion yuan (12 billion US dollars), up 5.7% year on year.

According to Xinhua reports, the foreign investment in 2016 continued to direct to high-end industries.

The actual use of foreign investment in service sector grew by 8.3% year on year to 571.58 billion yuan (83 billion US dollars), accounting for 70.3% of total foreign investment. The actual use of foreign capital in high-tech service stood at 95.56 billion yuan (14 billion US dollars), a year-on-year growth of 86.1%.

Email: gaohan@nbd.com.cn