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Annualized FDI doubles in December
By Wang Yanlin |
January 15, 2010, Friday
|
Online Edition
Online Edition
FOREIGN direct investment in China more than doubled in December, extending a gain for the fifth straight month after China managed a V-shaped recovery.
China's FDI surged 103 percent from a year earlier to US$12.1 billion last month, compared with an increase of 32 percent in November, the Ministry of Commerce said today.
It wrapped up foreign investment in 2009 at US$90 billion, down 2.6 percent on an annual basis due to sharp falls at the beginning of last year in the fallout of the global financial crisis.
"The climb in foreign investment last month showed people's growing confidence in China's economy," said Li Maoyu, an analyst at Changjiang Securities Co. "China has become a spotlight in the global market as it is on track to become number one in many aspects. For investors, China is a safe bet."
China overtook Germany as the world's largest exporter in December. China will also replace the United States as the world's biggest consumer market by 2020, according to a forecast by financial services group Credit Suisse.
China's FDI surged 103 percent from a year earlier to US$12.1 billion last month, compared with an increase of 32 percent in November, the Ministry of Commerce said today.
It wrapped up foreign investment in 2009 at US$90 billion, down 2.6 percent on an annual basis due to sharp falls at the beginning of last year in the fallout of the global financial crisis.
"The climb in foreign investment last month showed people's growing confidence in China's economy," said Li Maoyu, an analyst at Changjiang Securities Co. "China has become a spotlight in the global market as it is on track to become number one in many aspects. For investors, China is a safe bet."
China overtook Germany as the world's largest exporter in December. China will also replace the United States as the world's biggest consumer market by 2020, according to a forecast by financial services group Credit Suisse.
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