China鈥檚 FDI jumps 8% in first six months
Print Edition
CHINA’S foreign direct investment inflows rose 8 percent in the first six months from a year earlier, a Commerce Ministry official said yesterday.
Investment into China’s fast-growing services sector jumped 23 percent in the first half of 2015 from a year earlier, accounting for more than 60 percent of the period’s total FDI, Vice Minister of Commerce Wang Shouwen told a briefing.
Wang’s remarks were recorded in a transcript posted on the central government’s website. The ministry did not announce the exact investment value or the monthly figures for June.
China’s outbound direct investment soared 29.2 percent to US$56 billion in January-June from a year earlier, state television reported, citing the ministry.
FDI is an important gauge of the health of the external economy that sustains China’s vast factory sector, but is a small contributor to overall capital flows compared with exports, which were worth US$2.3 trillion in 2014.
Last year, China drew a record US$119.6 billion of FDI, while ODI surged 14.1 percent to a new high of US$102.9 billion.
The government has been encouraging firms to invest abroad to slow the rapid build-up of foreign exchange reserves and help domestic firms become more competitive internationally.
China’s outstanding foreign debt hit 10.28 trillion yuan (US$1.67 trillion) by the end of March, the country’s forex regulator said. The amount does not include the outstanding external debt of the Hong Kong and Macau special administrative regions or that of Taiwan.
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