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FDI into China from EU rises 22.26%
November 19, 2013, 10:28 am

[AP]

FDI inflows from the European Union surged 22.26 per cent from a year earlier to $6.4 billion dollars in the first ten months of the year [AP]

Foreign direct investment (FDI) into China rose for the ninth consecutive month in October to $8.42 billion, shows data from China’s Ministry of Commerce.

FDI from the European Union surged 22.26 per cent from a year earlier to $6.4 billion dollars in the first ten months of the year.

The inflow of FDI into the Asian nation rose 1.24 per cent last month from a year ago, however, the rate of growth slowed from September’s 4.88 per cent increase.

From January to October, the country’s FDI inflow stood at $97.03 billion, up 5.77 per cent from the same period last year.

FDI from 10 Asian countries was up 7.18 per cent in the January-October period, while investment from the United States climbed 12.41 per cent to $3.04 billion.

FDI into the service sector gained 13.93 per cent year-on-year to $49.81 billion in the same period. While the manufacturing sector attracted $38.29 billion of FDI, down 5.25 per cent from a year earlier.

Chinese investment in overseas non-financial sectors increased 20 per cent year-on-year to $69.5 billion, the ministry said.

A top official at HSBC said on Monday that China’s social and economic reforms made it a lucrative market.

“China [will lead a rotation into emerging market stocks] because it’s one of the cheapest emerging markets in the world and it’s one of the most profitable,” said Bill Maldonado, HSBC chief investment officer in the Asia-Pacific region.

Source: Agencies

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