China foreign direct investment falls sharply in October

Business | 14 Nov 2017 7:38 pm

Foreign direct investment into China fell sharply, up by a mere 5 percent year-on-year to 60.12 billion yuan last month, data showed today.

FDI tumbled from September when inflows gained by 17.3 percent, according to data from the Ministry of Commerce, Xinhua reports.

In the first 10 months, the FDI hit 678.7 billion yuan, up 1.9 percent from the same period a year ago. It higher than the 1.6-percent increase for January-September.

FDI in the manufacturing sector continued to grow while high-tech manufacturing and service industries maintained strong growth.

From January to October, the manufacturing sector attracted FDI worth 195.91 billion yuan, up 6.1 percent on-year, accounting for 28.9 percent of the total FDI.

The service sector drew 470.52 billion yuan, or 69.3 percent of the total. FDI in production and supply of power, gas and water soared by 74.3 percent on-year.

Some 56.65 billion yuan flowed into the high-tech manufacturing sector, an increase of 22.9 percent on-year.

The high-tech service industry actually used 95.01 billion yuan in FDI, up 20 percent year on year.

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