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China's FDI surges 32.9% in first quarter
By Wang Yanlin |
April 19, 2011, Tuesday
|
Online Edition
Online Edition
FOREIGN direct investment in China surged 32.9 percent from a year earlier to US$12.5 billion in March, reflecting China's continued appeal to foreign investors with its steady economic growth.
The country's outbound non-financial foreign investment increased 13.2 percent year-on-year to US$8.5 billion in the first quarter. But the Ministry of Commerce warned a less favorable investment environment due to persistent protectionism and political turmoil in some countries.
First-quarter foreign investment in China advanced 29.4 percent on an annual basis to US$30.3 billion, the ministry reported today.
"Foreign investors have shown renewed interest in emerging markets after the settlement of the global financial crisis," said Jing Ulrich, managing director at J.P. Morgan. "China is no doubt the top choice because of its stable political and business environment."
Li Maoyu, an analyst at the Changjiang Securities Co, said the ongoing riots in some countries may help China attract more foreign investment.
"Some foreign investors complain about China's rising labor costs," Li said. "They should understand other places may offer even cheaper workforce, but political instability may pose more risks there than investing in China."
China's gross domestic product expanded a more-than-expected 9.7 percent in the first three months, keeping in line with the 9.8 percent pace in the previous quarter.
With the country now relying more on domestic consumption to drive its economy, more foreign investments are pouring into the service sector which absorbed US$14.3 billion in the first quarter, up 36.4 percent from a year earlier.
The country's outbound non-financial foreign investment increased 13.2 percent year-on-year to US$8.5 billion in the first quarter. But the Ministry of Commerce warned a less favorable investment environment due to persistent protectionism and political turmoil in some countries.
First-quarter foreign investment in China advanced 29.4 percent on an annual basis to US$30.3 billion, the ministry reported today.
"Foreign investors have shown renewed interest in emerging markets after the settlement of the global financial crisis," said Jing Ulrich, managing director at J.P. Morgan. "China is no doubt the top choice because of its stable political and business environment."
Li Maoyu, an analyst at the Changjiang Securities Co, said the ongoing riots in some countries may help China attract more foreign investment.
"Some foreign investors complain about China's rising labor costs," Li said. "They should understand other places may offer even cheaper workforce, but political instability may pose more risks there than investing in China."
China's gross domestic product expanded a more-than-expected 9.7 percent in the first three months, keeping in line with the 9.8 percent pace in the previous quarter.
With the country now relying more on domestic consumption to drive its economy, more foreign investments are pouring into the service sector which absorbed US$14.3 billion in the first quarter, up 36.4 percent from a year earlier.
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