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China June FDI up by 20%
July 17, 2013, 9:01 am

[Xinhua]

The Asian nation’s FDI totalled $61.98 billion in the first half of this year [Xinhua]

China’s June foreign direct investment (FDI) has risen by 20.12 per cent from a year earlier to $14.39 billion.

The Asian nation’s FDI totalled $61.98 billion in the first half of this year, up 4.9 per cent year on year.

“The FDI increase proved the competitiveness of the Chinese economy and international investors’ recognition of the investment environment in China,” Ministry of Commerce (MOC) spokesman Shen Danyang said at a press conference.

The service sector took 49 per cent of the total FDI inflows and the manufacturing sector received $26.44 billion of foreign investment.

Danyang cautioned against presumptions about a rebound.

“We can not conclude that China’s FDI has rebounded by simply looking at just a single-month’s data. We expect the FDI in the second half to grow steadily,” he added.

China’s GDP growth figures released earlier this week show a slowing of growth to 7.5 per cent in the second quarter of 2013, down from 7.7 per cent during the first quarter.

The new figures released by the MOC on Wednesday did not include overseas fund influxes in banking, securities and insurance sectors.

Source: Agencies