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Foreign investment up 23.4% to US$10b in January
By Wang Yanlin |
February 17, 2011, Thursday
|
Online Edition
Online Edition
FOREIGN direct investment in China expanded steadily in the first month of 2011 and analysts said the country should still keep a close watch on the inflow of speculative money.
January's foreign direct investment rose 23.4 percent year-on-year to US$10.03 billion, the Ministry of Commerce said today. It compared with an increase of 15.6 percent in December and a surge of 38.17 percent in November.
"The growth last month turned out to be more reasonable," said Li Maoyu, an analyst at the Changjiang Securities Co. "But it is still a bit higher considering the timing of just before the Spring Festival holiday, which is normally not a season for rapid investment expansion. The government should remain on full alert for hot money."
Foreign investment in China has been growing for 18 consecutive months, and funds in the service industry are a major force to drive the growth.
In January, the service industry received US$4.69 billion in foreign investment, accounting for 46.8 percent of the total volume and jumping 31.8 percent.
January's foreign direct investment rose 23.4 percent year-on-year to US$10.03 billion, the Ministry of Commerce said today. It compared with an increase of 15.6 percent in December and a surge of 38.17 percent in November.
"The growth last month turned out to be more reasonable," said Li Maoyu, an analyst at the Changjiang Securities Co. "But it is still a bit higher considering the timing of just before the Spring Festival holiday, which is normally not a season for rapid investment expansion. The government should remain on full alert for hot money."
Foreign investment in China has been growing for 18 consecutive months, and funds in the service industry are a major force to drive the growth.
In January, the service industry received US$4.69 billion in foreign investment, accounting for 46.8 percent of the total volume and jumping 31.8 percent.
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