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FDI grows steadily in the first five months
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CHINA'S foreign direct investment expanded 10.5 percent from a year earlier to US$53.8 billion in the first five months, according to the Ministry of Commerce today.
The pace compared with an increase of 11.1 percent in the first four months and kept a steady rise as big name companies including Lufthansa Airlines, Mercedes-Benz and US agricultural firm Cargill invested more 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 advanced manufacturing bucked the trend of a declining input in general industrial sectors. 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 ministry said, but did not reveal the growth for general industrial sectors.
Also, major investors kept their input steady. The 28-country European Union directed US$3.3 billion into China in the first five months, up 23.2 percent year on year.
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.
Also, foreign investors increasingly resorted to mergers and acquisitions to invest in China. In the first five months, 18.2 percent of foreign investment were realized through mergers and acquisitions, up from 4.6 percent in the same period of last year, the ministry said.
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