The number of newly established foreign-invested businesses in China hit 31,654 in the first seven months of 2024, up 11.4 percent year-on-year, the Ministry of Commerce said on Friday.

In the meantime, the foreign direct investment in China stood at 539.47 billion yuan ($75.29 billion), dropping 29.6 percent on a yearly basis, said the ministry in an online statement.

In terms of FDI structure, China's manufacturing sector attracted 28.6 percent of total FDI inflows, amounting to 154.48 billion yuan, between January and July, marking a 2.9 percentage point increase compared to the same period last year.

China saw investment from Germany and Singapore grow by 26.4 percent and 11 percent on a yearly basis, respectively, during the seven-month period, said the ministry.