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FDI from Asia into China at $102.5 bn in 2013.
January 16, 2014, 8:27 am

FDI in the manufacturing sector dropped 6.78 per cent to $45.56 billion [Getty Images]

FDI in the manufacturing sector dropped 6.78 per cent to $45.56 billion [Getty Images]

Foreign direct investment (FDI) in the Chinese mainland increased 5.25 per cent year on year in 2013 to reach $117.59 billion, the Ministry of Commerce said Thursday.

The growth came as a boost after the disappointing annual 3.7 per cent decline registered in 2012, when the country’s economic slowdown worried global investors.

In December alone, the country’s FDI inflow rose 3.3 per cent from a year earlier to $12.08 billion, the ministry’s spokesman Shen Danyang said at a press conference.

“We saw a stable development in foreign investment with positive growth starting from February last year,” said Shen in a press briefing.

The spokesperson also said an internal survey by the Chinese Commerce Minister said 77% of companies polled said that external demand wasn’t strong, while more than half pointed to concerns about rising costs and growing competition from other emerging markets.

FDI in China’s service sector gained the maximum with a 14.15 per cent rise in 2013 to reach $61.45 billion, or 52.3 per cent of the total.

FDI in the manufacturing sector dropped 6.78 per cent to $45.56 billion.

In 2013, the ministry data showed FDI from from 10 Asian economies rose 7.1% to $102.5 billion.

FDI from United States expanded 7.13 per cent from one year earlier to $3.35 billion, while that from the European Union was up 18.07 per cent to 7.21 billion.

With a raging territorial dispute and the diplomatic fallout over Japanese Prime Minister Shinzo Abe’s visit to a controversial war shrine, FDI from Japan fell 4.28 per cent to $7.06 billion.

 

Source: Agencies

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