Thursday, April 24, 2014   

Services sector helps lift foreign investment to US$117b
(01-16 12:52)

Overseas investment into China grew by 5.3 percent last year, official data show. Investment has bounced back after declining in 2012 for the first time in three years.
Foreign direct investment, which excludes financial sectors, totalled US$117.59 billion last year, the commerce ministry said.
The figure is up from the US$111.72 billion posted in 2012, when it fell 3.7 percent, AFP reports.
For December alone FDI increased by 3.3 percent year on year to US$12.08 billion, the ministry said.
“In 2013, China's foreign direct investment steadily rebounded,'' the ministry said in a statement, adding that it had increased for 11 straight months from February.
The ministry said FDI in the services sector made up more than half the total for the first time, accounting for 52.3 percent.
Services industry investment reached US$61.45 billion, a gain of 14.2 percent, it said.
Chinese overseas investment increased by 16.8 percent to US$90.17 billion last year, the ministry said as mainland firms continue to buy foreign assets, particularly energy and resources.
“China's overseas investment will probably exceed FDI next year or in 2016, if not this year,'' ministry spokesman Shen Danyang told reporters.
FDI from the European Union jumped 18.1 percent to US$7.2 billion in 2013, while that from the United States gained by 7.1 percent to US$3.35 billion.
But by far the most investment into China comes from a group of 10 Asian countries and regions including Hong Kong, Taiwan, Japan, Thailand and Singapore. FDI from those economies was up by 7.1 percent to US$102.52 billion.
FDI from Japan, however, fell by 4.3 percent to US$7.1 billion.
Among China's outbound investment destinations, Russia soared 518.2 percent to US$4.08 billion last year with a raft of projects under way, including in the energy sector.
Chinese investment to the United States also surged, 125 percent to US$4.23 billion.
In September, shareholders of US pork giant Smithfield Foods agreed a takeover by China's Shuanghui International, the biggest ever Chinese acquisition of a US company.
Investment to the European Union, however, fell 13.6 percent owing to trade disputes between Beijing and Brussels, including over Chinese solar panels and European wine.
Investment to Japan fell a sharp 23.5 percent, while to Hong Kong it slipped by 6 percent, the ministry said, without providing totals.
   
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