China’s September FDI increase speeds up
Print Edition
China’s foreign direct investment growth accelerated in September, driven by investments from Asian countries even as the United States and Europe upped their presence here.
The inbound FDI, which excludes financial sectors, rose 4.88 percent from a year earlier to US$8.84 billion last month, the Ministry of Commerce said yesterday.
The pace picked up from the increase of 0.62 percent in August but was still lower than the 24.1 percent jump in July.
Shen Danyang, a spokesman for the ministry, said China remains an attractive destination for foreign investors due to its “comprehensive” strength in investment climate and mature operations, despite rising costs, growing market competition and economic slowdown.
“Foreign investors still hold confidence in China, although the country is facing many uncertainties and challenges such as insufficient foreign demand and rising labor costs,” Shen said.
He expected China to attract more foreign investment this year than last year’s US$111.7 billion, with stable growth predicted in the coming months.
A report by Boston Consulting Group said recently that 83 percent of multinational companies consider China a strategic market, and it remains the most important emerging market despite economic expansion easing, Shen said.
He also cited a report by the US-China Business Council, which said that more than 90 percent of American companies have reported their operations in China are profitable.
Shanghai’s pilot free trade zone, which was inaugurated last month, has made most of China’s economic areas open for foreign investment, Shen said.
In the first three quarters of this year, investments from a group of 10 Asian countries and regions rose 7.47 percent to US$76.2 billion, among which Thailand’s input surged five times from a year earlier, the official data showed.
The amount of money coming from the US jumped 21.3 percent to US$2.88 billion during the January-September period, while the European Union investors raised their input by 23 percent during the same period.
They helped raise China’s FDI to US$88.6 billion in the first nine months, up 6.22 percent from a year earlier.
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