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July 14, 2017

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Home » Business » Economy

June FDI rises 2.3%, ending recent decline

CHINA attracted 100.45 billion yuan (US$14.81 billion) in foreign direct investment in June, posting 2.3 percent annual growth to end a two-month decline, the Commerce Ministry said yesterday.

The turnaround was bolstered by the country’s efforts to improve its industrial sector and followed a 3.7 percent fall in May and a 4.3 percent drop in April, year on year.

In the first half, FDI inflow stood at 441.54 billion yuan, down 0.1 percent year on year.

The economy has been stable amid constant growth over the first half this year, attracting overseas funds and shored up by the recovery of the “real economy” — particularly advanced manufacturing and high-tech industries, said ministry spokesman Gao Feng.

The manufacturing sector attracted 128.6 billion yuan of foreign investment in the first half, up 3 percent year on year and accounting for 29.1 percent of total FDI.

Advanced industries covering information technology, research and design services led the growth by attracting 64.72 billion yuan, 20.4 percent higher from a year ago, followed by high-tech manufacturing such as computer making, aviation and pharmaceuticals which absorbed 34.97 billion yuan, 11.1 percent higher compared with the same month last year.

Foreign investment in the service sector reached 309.99 billion yuan, accounting for 70.2 percent of the total.

A total 2,894 foreign-funded enterprises settled in China last month.

That was 14.3 percent higher than a year ago.


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