China’s foreign direct investment (FDI) grew at its fastest pace in nearly four years in January despite the country’s weak economic performance at the start of this year, the Ministry of Commerce (MOFCOM) said. Foreign investors channeled USD13.9 billion into the country in January, up 29.4% from a year earlier and the strongest showing since April 2011. Growth accelerated from December’s 10.3% increase. In 2014, China absorbed USD119.6 billion in non-financial foreign investment, up 1.7% year-on-year. This helped China surpass the United States to become the world’s top destination for foreign investment. There has been a noticeable shift of investment from manufacturing to the service sector and from the coastal area to inland cities. In January investment in services increased 45.1% year-on-year to USD9.1 billion, or 66% of the total. Investment in manufacturing rose 13.9% to USD3.9 billion, 28.4% of the total. Meanwhile, China’s outbound direct investment (ODI) increased 40.6% year-on-year to USD10.1 billion in January, picking up from the pace of 31.8% in December. Last year, China’s ODI reached USD116 billion, only slightly below the inbound investment.