|China investment flows rise to US$79.7b
Foreign direct investment into China increased 6.37 percent year-on-year in the first eight months of 2013, the government said today, adding it was a sign of investor confidence.
Inward FDI, which excludes financial sectors, reached US$79.77 billion for the January-August period, the commerce ministry said in a statement.
For August alone the figure was at US$8.38 billion, up 0.62 percent on last year.
That represented a substantial slowdown after rises of 24.13 percent in July and 20.12 percent in June, AFP reports.
Commerce ministry spokesman Shen Danyang said in a statement that investment maintained “quite fast growth'' in the eight-month period.
“FDI growth is expected to be higher than last year,'' he said, adding that improved momentum since February had proven foreign investors' confidence in China's competitiveness.
Recent financial market turmoil in developing economies would not affect China's recovery trend, he said.
Incoming investment from the EU rose significantly, up 24.3 percent to US$5.44 billion, as it did from the US, up 18 percent to US$2.50 billion.
But the vast majority of investment into China comes from a group of 10 Asian countries and regions including Hong Kong, Taiwan and Japan, and FDI from them only gained 7.87 percent on year to US$68.63 billion in the eight-month period.
The figure for Japan alone was US$5.56 billion, up 9.45 percent.
Direct overseas investment from China in non-financial sectors grews 18.5 percent year-on-year to US$56.5 billion.
Investment in the seven major economies of Hong Kong, the south-east Asian grouping ASEAN, the EU, Australia, the US, Russia and Japan totalled US$39.11 billion, up 3 percent on-year.
But investment into Japan fell 25 percent and into Hong Kong it was down 11.4 percent.