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China FDI expands 7.8 percent in May
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CHINA'S foreign direct investment expanded 7.8 percent from a year earlier in May, showing signs of stabilization, the Ministry of Commerce said today.
Foreign investors channeled 57.3 billion yuan (US$9.3 billion) into China last month. The 7.8-percent growth pace compared with the rise of 10.5 percent in April, and stabilized after the big fluctuations in the first three months.
Shen Danyang, a spokesman at the ministry, said the data showed foreign investors had confidence in Chinese economy, and they evidenced there was no massive foreign investment withdrawal as reported by some overseas media earlier.
In the first five months, foreign investment expanded 10.5 percent to 330.9 billion yuan, with 9,582 new foreign-invested firms being set up in China.
The investment growth was led by funds in services, which expanded 23.5 percent year on year to US$33.9 billion in the first five months and represented 63 percent of the total. Among it, capital for the financial sector increased nearly five times and that for scientific research more than doubled.
Investment in manufacturing contracted 5 percent to US$16.5 billion, or 30.8 percent in the basket. However, foreign input in advanced manufacturing bucked the trend: funds flowing into telecom equipment manufacturing, transport equipment production and chemical manufacturing rose 4.8 percent, 4.4 percent and 2 percent respectively during the January-May period.
The 28-country European Union directed US$3.3 billion into China in the first five months, up 23.2 percent year on year. But the United States slashed their investment by 32.6 percent to US$970 million, partly due to a high comparative base.
The 64 countries involved in China's "Belt and Road" initiative, which aims to increase connectivity of regions spanning from Europe, Southeast Asia to Africa, raised their investment by 11.6 percent to US$2.9 billion during the period.
Last year, China absorbed altogether US$119.6 billion non-financial foreign investment, up 1.7 percent year on year. It helped China surpassed the United States to become the world's top destination for foreign investment.
Meanwhile, China's outbound direct investment rose 47.4 percent to 278.3 billion yuan in the first five months, with funds flowing into 3,426 overseas companies in 146 countries and regions. The pace accelerated from the rate of 36.1 percent in the January-April period.
China's investment in the European Union jumped nearly four times during the period; while more than US$4.8-billion Chinese capital was directed to 48 countries involved in the "Belt and Road" initiative.
Chinese investment in Australia lost 42 percent in the first five months. But the situation may have a turnaround after the two countries signed its landmark free trade agreement on Tuesday, which allowed easier access for Chinese private investors to Australia.
In 2014, China's outbound direct investment reached US$116 billion, only slightly below the inbound foreign investment.
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