In 2020, Xiamen achieved a year-on-year increase of 23.8% to RMB 16.6 billion in paid-in foreign investment, with scale accounting for 47.7% of the province, hitting a new record high. In terms of industrial structure, the service industry becomes a new hot spot for foreign investment. There were 940 new foreign-funded enterprises in Xiamen's service industry last year, accounting for 95.2% of the city's new foreign-funded enterprises. Large projects showed obvious driving effect, and new foreign-funded projects with contracts worth over 10 million US dollars increased by 90 in the city, with contracted foreign investment of 5.029 billion US dollars, up 3.5%. Xiamen guided foreign-funded enterprises to make use of preferential policies and measures, with foreign investment incentive funds of RMB 80.415 million offered. Xiamen also vigorously carried out "cloud investment", and signed 29 foreign-funded projects with a total planned investment of RMB 32.8 billion.
