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China FDI rises to $88.6bn
November 14, 2013, 9:42 am

[Getty Images]

Hong Kong contributed to nearly 65 per cent of China’s total FDI in the first nine months of the year [Getty Images]

China witnessed a surge in foreign direct investment (FDI) this year, an increase of six per cent from a year earlier, according to latest official data.

A total of $88.6 billion of foreign capital was invested in China during the first nine months of 2013, according to the Asian nation’s Commerce Ministry.

FDI has also been increasing for nine straight months with half of the top ten investors coming from Asia.

Hong Kong topped the list with a total investment of $57.9 billion since January, nearly 65 per cent of China’s total FDI.

It was followed by Japan, Singapore, Taiwan, the US, South Korea, Germany, the Netherlands, the UK and France.

China’s newly launched free trade zone (FTZ) in Shanghai is providing a venue for policy makers to experiment with loosening China’s controls on the financial industry, including a convertible yuan and liberalised interest rates.

The FTZ has triggered optimism for fresh investments and infrastructure funding that could bolster the economy.

Source: Agencies

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