Since the effectiveness of the Foreign Investment Law of the People's Republic of China, Xiamen has strengthened foreign investment promotion, protection, and administration work and effectively boosted foreign investors' confidence in Xiamen. Since 2019, Xiamen has witnessed a continuous increase in the level of foreign investments, with an annual growth of over 20% in foreign investment for two years consecutively and a decade-high FDI growth rate. In 2020, Xiamen utilized a total foreign investment of 16.6 billion yuan, up by 23.8% YOY, or 13.5 percentage points higher than the provincial average, and accounting for 47.7% of the provincial total. It ranked the first in the province in the scale of contracted foreign investment and paid-in foreign investment.
