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China FDI up 0.29%
June 18, 2013, 8:51 am



China’s actual use of foreign capital in May stood at $9.26 billion, up 0.29 per cent year on year, the ministry of commerce (MOC) announced Tuesday.

This marked the fourth consecutive monthly increase since February, when China reported an FDI recovery after declining for eight consecutive months since June 2012.

Recent foreign investment data has led to concerns about slowing growth in the world’s second-biggest economy.

During the first five months, inbound investment increased 1.03 per cent from a year earlier to $47.6 billion, official data shows.

From January to May, China approved the establishment of 8,609 foreign-invested enterprises, down 7.04 per cent from a year earlier.

The service sector saw a steady increase of FDI inflows in the first five months, up 4.03 per cent year on year and accounting for 48.31 per cent of the total FDI inflow during the period.

Foreign investment into China’s manufacturing sector fell 1.39 per cent, taking a 43.87-per cent share in the FDI inflow, MOC spokesman Shen Danyang said.

China’s outbound investment rose 20 per cent in the first five months of the year to $34.3 billion, compared with a 27.4 per cent pace in January-April.

Source: Agencies