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Foreign investment in China surges 16% in Jan

By Wang Yanlin | February 18, 2014, Tuesday | Online Edition

CHINA’S foreign direct investment surged 16.1 percent from a year earlier in January, much faster than the pace of 3.3 percent in December, the Ministry of Commerce said today.

Foreign investors channeled altogether US$10.76 billion into China last month, extending the growth momentum for a 12th consecutive month.

The sharp increase was bolstered particularly by foreign investment from the United States, which jumped 34.9 percent to US$369 million, while 10 Asian countries and regions raised their investment by a total of 22.16 percent to US$9.54 billion.

Investment from the 28-member European Union, however, fell 41.25 percent to US$482 million.

Shen Danyang, a spokesman at the ministry, said the double-digit growth rate of FDI confirmed foreign investors' confidence in China's economy and verified the quality of China's investment climate.

"China's new leadership has put much emphasis on reforms to allow the market a bigger role. Such a strategy helps to strengthen investor confidence and enhance the attraction of China for foreign investors," Shen said.

Foreign investment flowing into China's services sector swelled 57.02 percent year on year to US$6.33 billion in January, accounting for 58.8 percent of the overall investment as a sign of China's efforts to restructure the economy.

The manufacturing sector attracted US$3.46 billion, down 21.69 percent on an annual basis, according to the ministry.

Meanwhile, China's outbound direct investment rose 47.2 percent to US$7.23 billion last month, indicating Chinese investors' strong enthusiasm for globalizing their businesses.

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