Beijing | FDI into China rose 4.2 per cent year on year to USD 8.77 billion in October taking the foreign investment inflows to USD 103.7 in the last 10 months of this year, the Chinese Ministry of Commerce said. The growth slowed from a 7.1-per cent rise in September, state run Xinhua news agency reported.
For the first 10 months, FDI, which excludes investment in the financial sector, stood at USD 103.7 billion, up 8.6 per cent from the same period last year. Foreign investment in the service industry rose 19.4 per cent, with the high-tech service sector seeing a jump of 57.5 per cent to USD 6.76 billion.
High-tech manufacturing attracted USD 7.58 billions of foreign investment during the January-October period, up 11.6 per cent and accounting for 23.3 per cent of total foreign investment in manufacturing.
Investment from the ASEAN, European Union, Hong Kong, and Macao continued to grow fast, while that from Japan, the United States and Taiwan dropped significantly. The ministry also noted that more foreign firms invested in China through mergers and acquisitions, which accounted for 15.4 per cent of the total FDI in January-October, up from 6 per cent in the same period last year.