BEIJING - China will establish a platform for publicizing foreign investors' information to improve services, said the Ministry of Commerce in a statement on Monday.

The platform will publicize records of foreign investment, joint annual reports and credibility archives of foreign investors, said the statement.

Government priorities will shift from foreign investment approval to regulation and supervision in a bid to create a better environment for foreign investors, said the statement.

The platform will increase transparency and predictability of foreign investment management, according to the statement.

The ministry encourages pilot free trade zones and state-level economic development zones to take the lead in establishing the platform, according to the statement.

Foreign direct investment (FDI) into the Chinese mainland dropped 3.7 percent year on year in May to 54.7 billion yuan ($8 billion), data from the commerce ministry showed.

In the first five months, FDI inflow was 0.7 percent lower than the same period in 2016, said the ministry.