FDI rose 16.11% in January
February 24, 2014 Category Foreign investment, Weekly
China’s foreign direct investment (FDI) surged 16.11% in January compared with a year earlier, with investment from Asian economies and the United States showing the steepest rises. Foreign investors channeled USD10.76 billion into China, extending growth momentum for a 12th consecutive month. The increase was bolstered by investment from the U.S., which jumped 34.9% to USD369 million. ASEAN’s investment rose by 22.16% to USD9.54 billion, with South Korea nearly tripling its input. However, investment from the European Union fell 41.25% to USD482 million. Ministry of Commerce Spokesman Shen Danyang said January’s double-digit growth confirmed foreign investors’ confidence in China’s economy and the quality of the nation’s investment climate. Foreign investment flowing into China’s service sector grew 57.02% year-on-year to USD6.33 billion in January, while the manufacturing sector drew USD3.46 billion, down 21.69% on an annual basis. Capital pouring into central China jumped 89% and that in western China 71%. Meanwhile, China’s outbound direct investment (ODI) rose 47.2% to USD7.23 billion last month, higher than last year’s average growth of 16.8%. A note by the Australia & New Zealand Banking Group said it would be better to interpret the data in conjunction with next month’s release which will combine January and February, to account for seasonal factors such as the Spring Festival holiday.
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