Despite China’s cooling economy, the enthusiasm of the world’s top 500 companies for setting up new business in the country shows no signs of abating.

The multinationals’ optimism in the country’s economic outlook helped it attract 781 billion yuan ($126 billion) in non-financial foreign direct investment last year despite the economic slowdown, up 6.4 percent from 2014, the Ministry of Commerce said.

“The world’s top 500 companies are still optimistic about the Chinese market and investment prospects, and their continuous investment and expansion in the country reflect a commitment to China’s economic future,” said Tang Wenhong, director general of the Ministry of Commerce’s department of foreign investment administration.

Motor vehicle and automotive parts, petrification, energy, infrastructure, biology, pharmaceuticals, communication, finance and software services attracted the most foreign direct investment, he said.

A recent survey by the American Chamber of Commerce shows that 60 percent of the U.S. companies still regard China as one of their top three investment destinations, and a quarter regard it as their priority market.

“Relative to other developing markets, China is still well-positioned,” said James Zimmerman, chairman of the chamber.

“China remains a top investment priority for more than half of companies as they look to innovation for growth.”

China’s economy has been slowing for at least two years, with factory output and investment growth failing to fulfill forecasts.

AmCham said its member companies believe a stronger legal framework was necessary to facilitate future business growth.

The chamber’s multinational members are as confident in China’s investment and economic outlook as its American members, showing no trace of keeping back their enthusiasm to invest and set up new business.

The American Chamber of Commerce 2016 Business Climate Survey polled almost 500 of its…

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