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FDI into China rises 10.44% to reach $19.3 bn
March 18, 2014, 4:48 am

Foreign investors set up 2764 new enterprises in the Chinese mainland in January and February, down 5.18 per cent year on year, ministry spokesman Shen Danyang said in Beijing  [AP]

Foreign investors set up 2764 new enterprises in the Chinese mainland in January and February, down 5.18 per cent year on year, ministry spokesman Shen Danyang said in Beijing [AP]

Foreign direct investment (FDI) into the Chinese mainland rose 10.44 per cent year on year in January and February to reach $19.31 billion, data revealed by China’s Ministry of Commerce showed on Tuesday.

The growth rate marked a surge from the 5.25-per cent year-on-year increase in 2013, but was lower than the 16.11-per cent year-on-year rise in January.

Foreign investors set up 2764 new enterprises in the Chinese mainland in January and February, down 5.18 per cent year on year, ministry spokesman Shen Danyang said in Beijing.

FDI in the country’s service sector gained 25.54 per cent in the first two months year on year to $10.61 billion, or 54.9 per cent of the total, Shen said.

In contrast, the manufacturing sector saw its FDI inflows decrease 6.06 per cent year on year to $7.02 billion in the first two months.

FDI from the United States gained 43.26 per cent year on year to reach $711 million in the first two months. FDI from 10 major Asian economies climbed 11.58 per cent year on year to $16.94 billion, including a 17.63-per cent rise from Hong Kong, and a 223.62-per cent rise from South Korea.

But FDI from the European Union fell 13.82 per cent year on year to $1.05 billion.

With an inflow of $15.3 billion, the affluent east of China continued to grab the lion’s share of FDI in January and February.

China’s outbound direct investment by non-financial firms decreased 37.2 per cent year on year in the first two months to stand at $11.54 billion, according to the ministry.

 

Source: Agencies

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