Jilin province and central SOEs reach cooperation agreements for 49 projects on June 4. [Photo/Jilin Daily]

Northeast China's Jilin province has reported major growth in international capital flows in the current year, with foreign direct investment or FDI in the first five months of 2021 hitting $490 million, according to statistics released by the provincial department of commerce.

That performance represented a year-on-year increase of 47.4 percent, which was 7.7 percentage points above the national average.

The capital city of Changchun is reportedly the main magnet for foreign capital in Jilin province. In the first five months, its FDI was $360 million, accounting for 73.6 percent of the province's total and representing a year-on-year increase of 53.4 percent.

Baicheng, Songyuan and Jilin cities also showed increases in their FDI during the period.

Germany was the biggest single source of foreign investment in Jilin province, investing $170 million in the period. Meanwhile foreign capital coming into Jilin – flowing through Hong Kong in southern China to the province – totaled $120 million during the period.

According to the commerce department, international investors prefer to invest in the region's advanced manufacturing industry.

From January to May, FDI in modern manufacturing in Jilin province was $440 million, accounting for 89 percent of the province's total FDI, representing an increase of 132.6 percent year-on-year.

Since the start of the year, the province has focused on extending its industrial supply chain.

Focusing on German and Japanese cars, the province has attracted foreign auto components manufacturers to invest and build factories there. At the same time, it has introduced relevant measures to protect the legitimate rights and interests of foreign investment.

Aside from expanding foreign capital, Chinese funding in the province has also been extremely active.

In June, 53 State-owned enterprises under the direct administration of the central government – including China National Nuclear Corporation and the Aviation Industry Corporation of China – signed 49 projects with Jilin province, with a contract value of 232.13 billion yuan ($35.82 billion).