South China Normal University Reports Findings in Science (Utilization of foreign investment in the productive service industry in Hubei province, China and its optimization counter-measures): Science

2024 JUL 02 (NewsRx) -- By a News Reporter-Staff News Editor at Daily China News -- New research on Science is the subject of a report. According to news reporting out of Guangdong, People’s Republic of China, by NewsRx editors, research stated, “The Global Investment Report 2023 revealed that after a sharp decline in 2020 and a strong rebound in 2021, global foreign direct investment (FDI) declined by 12 percent to $1.3 trillion in 2022. However, in developing countries, FDI increased by 4% to $916 billion, a record share of more than 70% of global flows.”

Financial support for this research came from National Social Science Fund of China.

Our news journalists obtained a quote from the research from South China Normal University, “The number of greenfield investment projects in developing countries increased by 37 percent and international project finance transactions by 5 percent. Foreign investment from China, the second largest recipient of foreign investment globally, increased by 5 percent. The service industry has become the mainstream industry in the global FDI structure. The global industry is accelerating its transformation to a ‘service-based economy,’ international FDI in productive service industries has become an essential means of industrial transfer in developed countries and a meaningful way to upgrade the industrial structure and high-quality development in emerging economies. As a representative province in central China, Hubei Province has unique advantages in human capital, factor cost, and market potential, which provide preferential conditions to attract foreign investment. This paper first introduced the concept of the productive service industry, based on the relevant statistical data from 2011 to 2022, focused on the current situation of foreign investment utilization in five major sub-sectors of the productive service industry in Hubei Province in the past ten years, and empirically investigated the impact of foreign investment utilization in five major sub-sectors of the productive service industry on the economic growth of Hubei Province, and obtained that the level of foreign investment attraction varied significantly among the regions in Hubei Province. The three productive service industries, namely transportation, storage and postal services, information transmission, software and information technology services, and financial services, played a significant role in the active attraction and optimal utilization of foreign capital and the economic development of Hubei Province.”

According to the news editors, the research concluded: “Based on this, it was proposed to build a market-oriented rule of law and internationalized business environment, improve the infrastructure construction in different regions of the province, focus on the training of professional talents for the development of productive service industries, and pay attention to the improvement of independent innovation capacity.”

For more information on this research see: Utilization of foreign investment in the productive service industry in Hubei province, China and its optimization counter-measures. PLOS ONE, 2024;19(6). PLOS ONE can be contacted at: Public Library Science, 1160 Battery Street, Ste 100, San Francisco, CA 94111, USA. (Public Library of Science - www.plos.org; PLOS ONE - www.plosone.org)

Our news journalists report that additional information may be obtained by contacting Yunpei Wang, School of Economics and Management, South China Normal University, Guangzhou, Guangdong, People’s Republic of China. Additional authors for this research include Yuting Zhou and Qingnian Wang.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1371/journal.pone.0302494. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

Publisher contact information for the journal PLOS ONE is: Public Library Science, 1160 Battery Street, Ste 100, San Francisco, CA 94111, USA.

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