Economy

China's FDI grows 27.48% in May

(Xinhua)
Updated: 2010-06-12 14:09

The amount of foreign direct investment (FDI) into China in May rose by 27.48 percent year-on-year to $8.13 billion, said Yao Jian, spokesman of the Ministry of Commerce (MOC), Saturday.

The figure brought the country's FDI to $38.92 billion in the first five months, an increase of 14.31 percent from a year earlier.

Yao said that in the first five months, FDI mainly flowed into the manufacturing sector, accounting for 47.32 percent of the total, despite a fall of 3.85 percent in the amount.

Related readings:  Experts say foreign investment to remain robust  Still attractive for FDI  FDI rise indicates confidence

The service sector saw actual inflow of the FDI up 32.05 percent from a year earlier, while FDI in the primary sector, including farming, fishery and forestry, rose 85.49 percent year-on-year, which accounted for 1.63 percent of the total FDI in the first five months.

China approved the establishment of 9,638 overseas-funded ventures in the first five months, up 22.15 percent from the same period of last year. In May alone, the government approved 2,132 such companies, representing a year-on-year increase of 29.29 percent.