This is the list of countries by flows of foreign direct investment (FDI) abroad. The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1.
According to the World Bank, "Foreign Direct Investment (FDI) refers to direct investment equity flows in an economy. It is the sum of equity capital, reinvestment of earnings, and other capital. Direct investment is a category of cross-border investment associated with a resident in one economy having control or a significant degree of influence on the management of an enterprise that is resident in another economy. Ownership of 10 percent or more of the ordinary shares of voting stock is the criterion for determining the existence of a direct investment relationship. In the following table, WB figures shows net outflows of investment from the reporting economy to the rest of the world. Data are in current U.S. dollars." [3]
According to the Organisation for Economic Co-operation and Development, "outward Foreign Direct Investment (FDI) flows record the value of cross-border direct investment transactions from the reporting economy during a year. Outward flows represent transactions that increase the investment that investors in the reporting economy have in enterprises in the destination country less any transactions that decrease the investment that investors in the reporting economy have in enterprises in the destination country. [4] Net Outward FDI = Investments by resident parents in their affiliates abroad and investments (mostly loans) by resident fellow enterprises in other fellows abroad, where those fellows are ultimately controlled by a resident parent, minus reverse investments: investments (mostly loans) by foreign affiliates in their resident parents and by foreign fellow enterprises in resident fellows, where those fellows are ultimately controlled by a resident parent." [5]
Sorting is alphabetical by country code, according to ISO 3166-1 alpha-3.
Country/Territory/Region/Group | WB [1] [2] | OECD [6] | ||||
---|---|---|---|---|---|---|
Foreign direct investment, net outflows | Outward FDI flows | |||||
mil US$ | Year | % of GDP | Year | mil USD | Year | |
WORLD | 1175112.71 | 2023 | 1.07% | 2023 | 1540758.34 | 2023 |
Aruba | 91.45 | 2023 | 3.48% | 2022 | ||
Afghanistan | 30.79 | 2021 | 0.22% | 2021 | ||
Angola | 33.36 | 2023 | 0.04% | 2023 | ||
Albania | 265.14 | 2023 | 1.15% | 2023 | ||
United Arab Emirates | 22328.11 | 2023 | 4.43% | 2023 | ||
Argentina | 2961.34 | 2023 | 0.46% | 2023 | ||
Armenia | 53.85 | 2023 | 0.22% | 2023 | ||
Antigua and Barbuda | 7.48 | 2023 | 0.37% | 2023 | ||
Australia | 14908.29 | 2023 | 0.86% | 2023 | 14850.84 | 2023 |
Austria | 4961.11 | 2023 | 0.96% | 2023 | 9740.48 | 2023 |
Azerbaijan | 1875.23 | 2023 | 2.59% | 2023 | ||
Burundi | 1.17 | 2023 | 0.04% | 2023 | ||
Belgium | −29521.71 | 2023 | −4.67% | 2023 | 12067.47 | 2023 |
Benin | 48.96 | 2023 | 0.25% | 2023 | ||
Burkina Faso | 5.17 | 2023 | 0.03% | 2023 | ||
Bangladesh | −2.06 | 2023 | 0.00% | 2023 | ||
Bulgaria | 1099.85 | 2023 | 1.08% | 2023 | ||
Bahrain | 1113.03 | 2023 | 2.58% | 2023 | ||
Bahamas | 418.96 | 2023 | 2.92% | 2023 | ||
Bosnia and Herzegovina | 46.13 | 2023 | 0.17% | 2023 | ||
Belarus | 32.88 | 2023 | 0.05% | 2023 | ||
Belize | 2.26 | 2023 | 0.07% | 2023 | ||
Bermuda | 21.48 | 2023 | 0.26% | 2022 | ||
Bolivia | 256.54 | 2023 | 0.56% | 2023 | ||
Brazil | 25148.30 | 2023 | 1.16% | 2023 | ||
Barbados | 8.00 | 2023 | 0.13% | 2023 | ||
Brunei | 17.46 | 2006 | 0.15% | 2006 | ||
Bhutan | 0.04 | 2023 | ||||
Botswana | 9.49 | 2023 | 0.05% | 2023 | ||
Central African Republic | 0.00 | 2002 | 0.00% | 2002 | ||
Canada | 82974.37 | 2023 | 3.88% | 2023 | 81508.20 | 2023 |
Switzerland | 53100.01 | 2023 | 6.00% | 2023 | 102044.75 | 2023 |
Chile | 6277.99 | 2023 | 1.87% | 2023 | 5567.10 | 2023 |
China | 185301.45 | 2023 | 1.04% | 2023 | ||
Ivory Coast | 214.91 | 2023 | 0.27% | 2023 | ||
Cameroon | −109.13 | 2023 | −0.23% | 2023 | ||
Democratic Republic of the Congo | 235.50 | 2023 | 0.35% | 2023 | ||
Republic of the Congo | 26.36 | 2023 | 0.17% | 2023 | ||
Colombia | 1174.89 | 2023 | 0.32% | 2023 | 1174.89 | 2023 |
Comoros | 1.10 | 1990 | 0.26% | 1990 | ||
Cape Verde | 8.53 | 2023 | 0.33% | 2023 | ||
Costa Rica | 986.87 | 2023 | 1.14% | 2023 | 288.19 | 2023 |
Curaçao | 7.26 | 2023 | 0.60% | 2022 | ||
Cayman Islands | 20421.63 | 2023 | −30.27% | 2022 | ||
Cyprus | −13017.06 | 2023 | −40.39% | 2023 | ||
Czech Republic | 7495.49 | 2023 | 2.27% | 2023 | 7052.74 | 2023 |
Germany | 80414.01 | 2023 | 1.80% | 2023 | 101258.13 | 2023 |
Dominica | −0.80 | 2023 | −0.12% | 2023 | ||
Denmark | 11037.93 | 2023 | 2.73% | 2023 | 13866.63 | 2023 |
Dominican Republic | 360.30 | 2023 | 0.30% | 2023 | ||
Algeria | 83.55 | 2023 | 0.03% | 2023 | ||
Ecuador | 0.00 | 1989 | 0.00% | 1989 | ||
Egypt | 390.40 | 2023 | 0.10% | 2023 | ||
Eritrea | −27.88 | 2000 | −3.95% | 2000 | ||
Spain | 29079.42 | 2023 | 1.84% | 2023 | 28967.34 | 2023 |
Estonia | 2282.81 | 2023 | 5.60% | 2023 | 1526.84 | 2023 |
Ethiopia | 0.00 | 1989 | 0.00% | 1989 | ||
Finland | 2048.05 | 2023 | 0.68% | 2023 | 10889.92 | 2023 |
Fiji | 28.98 | 2023 | 0.53% | 2023 | ||
France | 39316.27 | 2023 | 1.30% | 2023 | 72610.60 | 2023 |
Federated States of Micronesia | −0.51 | 2014 | −0.16% | 2014 | ||
Gabon | −33.78 | 2019 | −0.20% | 2019 | ||
United Kingdom | 41882.30 | 2023 | 1.25% | 2023 | 2007.46 | 2023 |
Georgia | 472.01 | 2023 | 1.55% | 2023 | ||
Ghana | 11.01 | 2023 | 0.01% | 2023 | ||
Guinea | 0.09 | 2023 | 0.00% | 2023 | ||
Gambia | −0.61 | 2023 | −0.03% | 2023 | ||
Guinea-Bissau | 0.26 | 2023 | 0.01% | 2023 | ||
Equatorial Guinea | −0.69 | 2022 | −0.01% | 2022 | ||
Greece | 3491.19 | 2023 | 1.47% | 2023 | 3952.33 | 2023 |
Grenada | 12.75 | 2023 | 0.97% | 2023 | ||
Guatemala | 658.28 | 2023 | 0.65% | 2023 | ||
Guyana | 6.90 | 2023 | 0.04% | 2023 | ||
Hong Kong | 102712.20 | 2023 | 26.88% | 2023 | ||
Honduras | 227.76 | 2023 | 0.66% | 2023 | ||
Croatia | 1362.58 | 2023 | 1.65% | 2023 | ||
Haiti | −1.00 | 1999 | −0.02% | 1999 | ||
Hungary | −78719.38 | 2023 | −37.06% | 2023 | 3705.99 | 2023 |
Indonesia | 7101.47 | 2023 | 0.52% | 2023 | ||
India | 13878.57 | 2023 | 0.39% | 2023 | ||
Ireland | −123172.88 | 2023 | −22.57% | 2023 | −7448.83 | 2023 |
Iran | 86.67 | 2023 | 0.02% | 2023 | ||
Iraq | 278.67 | 2023 | 0.11% | 2023 | ||
Iceland | 278.47 | 2023 | 0.90% | 2023 | 106.41 | 2023 |
Israel | 9728.00 | 2023 | 1.91% | 2023 | 9728.20 | 2023 |
Italy | 23081.05 | 2023 | 1.02% | 2023 | 13015.10 | 2023 |
Jamaica | −3.89 | 2023 | −0.02% | 2023 | ||
Jordan | 64.23 | 2023 | 0.13% | 2023 | ||
Japan | 182069.39 | 2023 | 4.32% | 2023 | 184002.53 | 2023 |
Kazakhstan | 2993.19 | 2023 | 1.14% | 2023 | ||
Kenya | 587.54 | 2023 | 0.55% | 2023 | ||
Kyrgyzstan | 1.50 | 2023 | 0.01% | 2023 | ||
Cambodia | 151.41 | 2023 | 0.48% | 2023 | ||
Kiribati | 0.10 | 2023 | 0.04% | 2023 | ||
Saint Kitts and Nevis | −1.44 | 2023 | −0.13% | 2023 | ||
South Korea | 34540.60 | 2023 | 2.02% | 2023 | 34540.60 | 2023 |
Kuwait | 11201.13 | 2023 | 6.92% | 2023 | ||
Laos | 0.01 | 2022 | 0.00% | 2022 | ||
Lebanon | 72.67 | 2023 | 0.32% | 2022 | ||
Liberia | 87.37 | 2023 | 2.02% | 2023 | ||
Libya | −164.18 | 2023 | −0.33% | 2023 | ||
Saint Lucia | −2.85 | 2023 | −0.11% | 2023 | ||
Sri Lanka | 33.93 | 2023 | 0.04% | 2023 | ||
Lesotho | 0.00 | 1989 | 0.00% | 1989 | ||
Lithuania | 2311.59 | 2023 | 2.97% | 2023 | 1044.19 | 2023 |
Luxembourg | −23678.69 | 2023 | −27.61% | 2023 | −23679.71 | 2023 |
Latvia | 872.29 | 2023 | 2.00% | 2023 | 577.42 | 2023 |
Macau | 1607.11 | 2023 | 3.41% | 2023 | ||
Morocco | 835.94 | 2023 | 0.59% | 2023 | ||
Moldova | 0.73 | 2023 | 0.00% | 2023 | ||
Madagascar | 119.26 | 2023 | 0.74% | 2023 | ||
Maldives | 0.00 | 1989 | 0.00% | 1989 | ||
Mexico | 758.46 | 2023 | 0.04% | 2023 | 6843.48 | 2023 |
Marshall Islands | 2.94 | 2006 | 2.06% | 2006 | ||
North Macedonia | 136.96 | 2023 | 0.93% | 2023 | ||
Mali | 23.22 | 2023 | 0.11% | 2023 | ||
Malta | 20859.82 | 2023 | 99.54% | 2023 | ||
Myanmar | 0.00 | 1989 | 0.00% | 1989 | ||
Montenegro | 57.31 | 2023 | 0.77% | 2023 | ||
Mongolia | 75.94 | 2023 | 0.38% | 2023 | ||
Mozambique | 174.10 | 2023 | 0.84% | 2023 | ||
Mauritania | 0.13 | 2023 | 0.00% | 2023 | ||
Mauritius | 16.17 | 2023 | 0.11% | 2023 | ||
Malawi | 69.19 | 2023 | 0.49% | 2023 | ||
Malaysia | 7965.46 | 2023 | 1.99% | 2023 | ||
Namibia | −307.41 | 2023 | −2.49% | 2023 | ||
New Caledonia | 50.60 | 2023 | 0.59% | 2022 | ||
Niger | 40.39 | 2023 | 0.24% | 2023 | ||
Nigeria | 255.84 | 2023 | 0.07% | 2023 | ||
Nicaragua | 30.77 | 2023 | 0.17% | 2023 | ||
Netherlands | −332495.23 | 2023 | −29.74% | 2023 | −195880.93 | 2023 |
Norway | 15052.07 | 2023 | 3.10% | 2023 | 15292.30 | 2023 |
Nepal | 0.00 | 1989 | 0.00% | 1989 | ||
New Zealand | −231.47 | 2023 | −0.09% | 2023 | −838.65 | 2023 |
Oman | 164.89 | 2023 | 0.15% | 2023 | ||
Pakistan | 32.00 | 2023 | 0.01% | 2023 | ||
Panama | 785.88 | 2023 | 0.94% | 2023 | ||
Peru | 1476.08 | 2023 | 0.55% | 2023 | ||
Philippines | 3905.23 | 2023 | 0.89% | 2023 | ||
Palau | −0.04 | 1998 | −0.03% | 1998 | ||
Papua New Guinea | 595.86 | 2023 | 1.93% | 2023 | ||
Poland | 12913.00 | 2023 | 1.59% | 2023 | 3855.04 | 2023 |
Portugal | 6038.04 | 2023 | 2.10% | 2023 | 3557.53 | 2023 |
Paraguay | −85.99 | 2023 | −0.20% | 2023 | ||
Palestine | 3.16 | 2023 | 0.02% | 2023 | ||
French Polynesia | 14.97 | 2023 | 0.10% | 2022 | ||
Qatar | −191.48 | 2023 | 1.01% | 2022 | ||
Romania | 1324.57 | 2023 | 0.38% | 2023 | ||
Russia | 9618.18 | 2023 | 0.48% | 2023 | ||
Rwanda | 0.00 | 2023 | 0.00% | 2023 | ||
Saudi Arabia | 16071.21 | 2023 | 1.51% | 2023 | ||
Sudan | 54.24 | 2021 | 0.16% | 2021 | ||
Senegal | 91.33 | 2023 | 0.29% | 2023 | ||
Singapore | 62997.24 | 2023 | 12.56% | 2023 | ||
Solomon Islands | 6.42 | 2023 | 0.39% | 2023 | ||
Sierra Leone | −0.03 | 2010 | 0.00% | 2010 | ||
El Salvador | −92.17 | 2023 | −0.27% | 2023 | ||
Serbia | 326.98 | 2023 | 0.43% | 2023 | ||
South Sudan | 41.98 | 2017 | −0.01% | 2015 | ||
São Tomé and Príncipe | −3.65 | 2023 | −0.60% | 2023 | ||
Suriname | 10.38 | 2023 | 0.27% | 2023 | ||
Slovakia | −415.75 | 2023 | −0.31% | 2023 | 88.96 | 2023 |
Slovenia | 580.28 | 2023 | 0.85% | 2023 | 855.43 | 2023 |
Sweden | 40511.55 | 2023 | 6.83% | 2023 | 47736.61 | 2023 |
Eswatini | −22.65 | 2023 | −0.49% | 2023 | ||
Sint Maarten | 0.14 | 2023 | 0.01% | 2023 | ||
Seychelles | −39.51 | 2023 | −1.85% | 2023 | ||
Syria | 0.00 | 1989 | 0.00% | 1989 | ||
Turks and Caicos Islands | −51.54 | 2018 | −4.57% | 2018 | ||
Chad | −2.15 | 1999 | −0.14% | 1999 | ||
Togo | −60.32 | 2023 | −0.66% | 2023 | ||
Thailand | 10291.83 | 2023 | 2.00% | 2023 | ||
Tajikistan | 40.04 | 2023 | 0.33% | 2023 | ||
Timor-Leste | −17.00 | 2023 | −0.76% | 2023 | ||
Tonga | 0.31 | 2023 | 0.08% | 2022 | ||
Trinidad and Tobago | 530.68 | 2023 | 1.89% | 2023 | ||
Tunisia | 39.60 | 2023 | 0.08% | 2023 | ||
Turkey | 5963.00 | 2023 | 0.54% | 2023 | 5780.20 | 2023 |
Tuvalu | −0.92 | 2021 | −1.52% | 2021 | ||
Tanzania | 2.26 | 2003 | 0.01% | 2003 | ||
Uganda | 0.38 | 2023 | 0.00% | 2023 | ||
Ukraine | 129.00 | 2023 | 0.07% | 2023 | ||
Uruguay | −4739.21 | 2023 | −6.14% | 2023 | ||
United States | 454084.00 | 2023 | 1.66% | 2023 | 393984.00 | 2023 |
Uzbekistan | 11.73 | 2023 | 0.01% | 2023 | ||
Saint Vincent and the Grenadines | −1.57 | 2023 | −0.15% | 2023 | ||
Venezuela | 1434.25 | 2023 | 0.94% | 2014 | ||
British Virgin Islands | 44158.49 | 2023 | ||||
Vietnam | −1550.00 | 2023 | −0.36% | 2023 | ||
Vanuatu | 4.40 | 2023 | 0.39% | 2023 | ||
Samoa | 0.00 | 2023 | 0.00% | 2023 | ||
Kosovo | 204.76 | 2023 | 1.96% | 2023 | ||
Yemen | 3.33 | 2019 | 0.02% | 2019 | ||
South Africa | −2811.91 | 2023 | −0.74% | 2023 | ||
Zambia | 117.10 | 2023 | 0.42% | 2023 | ||
Zimbabwe | 30.50 | 2023 | 0.11% | 2023 | ||
SIDS (Small Island Developing States) | ||||||
SIDS: Caribbean | 460.08 | 2023 | 0.86% | 2023 | ||
SIDS: Pacific | 40.21 | 2023 | 0.42% | 2023 | ||
LDCs (Least developed countries) | 1121.27 | 2023 | 0.14% | 2022 | ||
Low & middle income economies (WB) | 274874.83 | 2023 | 0.75% | 2023 | ||
Low-income economies (WB) | 695.09 | 2023 | 0.12% | 1989 | ||
Middle-income economies (WB) | 274179.74 | 2023 | 0.76% | 2023 | ||
Lower middle income economies (WB) | 20303.45 | 2023 | 0.28% | 2023 | ||
Upper middle income economies (WB) | 253876.30 | 2023 | 0.87% | 2023 | ||
High-income economies (WB) | 898803.62 | 2023 | 1.24% | 2023 | ||
European Union | −309939.80 | 2023 | −1.69% | 2023 | 184096.97 | 2023 |
OECD | 581977.68 | 2023 | 0.91% | 2023 | 966239.77 | 2023 |
Notes
WB: Foreign direct investment refers to direct investment equity flows in an economy. It is the sum of equity capital. reinvestment of earnings. and other capital. Direct investment is a category of cross-border investment associated with a resident in one economy having control or a significant degree of influence on the management of an enterprise that is resident in another economy. Ownership of 10 percent or more of the ordinary shares of voting stock is the criterion for determining the existence of a direct investment relationship. This series shows net outflows of investment from the reporting economy to the rest of the world. Data are in current U.S. dollars.
OECD: Net Outward FDI = Investments by resident parents in their affiliates abroad and investments (mostly loans) by resident fellow enterprises in other fellows abroad, where those fellows are ultimately controlled by a resident parent, minus reverse investments: investments (mostly loans) by foreign affiliates in their resident parents and by foreign fellow enterprises in resident fellows, where those fellows are ultimately controlled by a resident parent.
The economy of Indonesia is a mixed economy with dirigiste characteristics, and it is one of the emerging market economies in the world and the largest in Southeast Asia. As an upper-middle income country and member of the G20, Indonesia is classified as a newly industrialized country. Indonesia nominal GDP reached 20.892 quadrillion rupiah in 2023, it is the 16th largest economy in the world by nominal GDP and the 7th largest in terms of GDP (PPP). Indonesia's internet economy reached US$77 billion in 2022, and is expected to cross the US$130 billion mark by 2025. Indonesia depends on the domestic market and government budget spending and its ownership of state-owned enterprises. The administration of prices of a range of basic goods also plays a significant role in Indonesia's market economy. However, micro, medium and small companies contribute around 61.7% of the economy and significant major private owned companies and foreign companies are also present
The economy of Kazakhstan is the largest in Central Asia in both absolute and per capita terms. In 2021, Kazakhstan attracted more than US$370 billion of foreign investments since becoming an independent republic after the dissolution of the former Soviet Union.
The economy of Laos is a lower-middle income developing economy. Being a socialist state, the Lao economic model resembles the Chinese socialist market and/or Vietnamese socialist-oriented market economies by combining high degrees of state ownership with openness to foreign direct investment and private ownership in a predominantly market-based framework.
The economy of Slovakia is based upon Slovakia becoming an EU member state in 2004, and adopting the euro at the beginning of 2009. Its capital, Bratislava, is the largest financial centre in Slovakia. As of Q1 2018, the unemployment rate was 5.72%.
The economy of Togo has struggled greatly. The International Monetary Fund (IMF) ranks it as the tenth poorest country in the world, with development undercut by political instability, lowered commodity prices, and external debts. While industry and services play a role, the economy is dependent on subsistence agriculture, with industrialization and regional banking suffering major setbacks.
In macroeconomics and international finance, a country's current account records the value of exports and imports of both goods and services and international transfers of capital. It is one of the two components of the balance of payments, the other being the capital account. Current account measures the nation's earnings and spendings abroad and it consists of the balance of trade, net primary income or factor income and net unilateral transfers, that have taken place over a given period of time. The current account balance is one of two major measures of a country's foreign trade. A current account surplus indicates that the value of a country's net foreign assets grew over the period in question, and a current account deficit indicates that it shrank. Both government and private payments are included in the calculation. It is called the current account because goods and services are generally consumed in the current period.
A foreign direct investment (FDI) refers to purchase of an asset in another country, such that it gives direct control to the purchaser over the asset. In other words, it is an investment in the form of a controlling ownership in a business, in real estate or in productive assets such as factories in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment or foreign indirect investment by a notion of direct control.
In macroeconomics and international finance, the capital account, also known as the capital and financial account, records the net flow of investment into an economy. It is one of the two primary components of the balance of payments, the other being the current account. Whereas the current account reflects a nation's net income, the capital account reflects net change in ownership of national assets.
FDI stock is the value of the share of capital and reserves attributable to the parent enterprise, plus the net indebtedness of affiliates to the parent enterprise.
Capital began to flow in and out of Japan following the Meiji Restoration of 1868, but policy restricted loans from overseas. In the aftermath of World War II, Japan was a debtor nation until the mid-1960s. Subsequently, capital controls were progressively removed, in part as a result of agreements with the United States. This process led to rapid expansion of capital flows during the 1970s and especially the 1980s, when Japan became a creditor nation and the largest net investor in the world. This credit position resulted both from foreign direct investment by Japanese corporations, and portfolio investment. In particular, the rapid increase of Japan's direct investments overseas, much exceeding foreign investment in Japan, led to some tension with the US at the end of the 1980s.
Trade in services statistics are economic statistics which detail international trade in services. They received a great deal of focus at the advent of services negotiations which took place under the Uruguay Round, which became part of the General Agreement on Trade in Services, one of the four principal pillars of the World Trade Organization (WTO) trade treaty, also called the "WTO Agreement".
Foreign affiliate trade statistics (FATS), also known as transnational corporation (TNC) data details the economic operations of foreign direct investment-based enterprises.
Foreign direct investment in Iran (FDI) has been hindered by unfavorable or complex operating requirements and by international sanctions, although in the early 2000s the Iranian government liberalized investment regulations. Iran ranks 62nd in the World Economic Forum's 2011 analysis of the global competitiveness of 142 countries. In 2010, Iran ranked sixth globally in attracting foreign investments.
The Multilateral Investment Guarantee Agency (MIGA) is an international financial institution which offers political risk insurance and credit enhancement guarantees. These guarantees help investors protect foreign direct investments against political and non-commercial risks in developing countries. MIGA is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States.
The economy of Algeria deals with Algeria's current and structural economic situation. Since independence in 1962, Algeria has launched major economic projects to build up a dense industrial base. However, despite these major achievements, the Algerian economy has gone through various stages of turbulence.
The economy of the People's Republic of China is a developing mixed socialist market economy, incorporating industrial policies and strategic five-year plans. China is the world's second largest economy by nominal GDP, behind the United States, and since 2017 has been the world's largest economy when measured by purchasing power parity (PPP). China accounted for 19% of the global economy in 2022 in PPP terms, and around 18% in nominal terms in 2022. The economy consists of state-owned enterprises (SOEs) and mixed-ownership enterprises, as well as a large domestic private sector which contribute approximately 60% of the GDP, 80% of urban employment and 90% of new jobs, the system also consist of a high degree of openness to foreign businesses. According to the annual data of major economic indicators released by the National Bureau of Statistics since 1952, China's GDP grew by an average of 6.17% per year in the 26 years from 1953 to 1978. China implemented economic reform in 1978, and from 1979 to 2023, the country's GDP growth rate grew by an average of 8.93% per year in the 45 years since its implementing economic reform. According to preliminary data released by the authorities, China's GDP in 2023 was CN¥126.06 trillion with a real increase of 5.2% from 2022.