China's foreign direct investment rose 24.1% from a year earlier to $9.41 billion in July, marking the 6th straight month of year on year increase and the 2nd straight month of year on year increase over 20%, the Ministry of Commerce said.
The growth rates in July and June were much stronger than the less than half a percent rates recorded for April and May and around 6% in February and March. FDI had fallen for 8 consecutive months through January 2013 as the China's economy faltered amid a global downturn.
In the first 7 months of 2013, China attracted $71.39 billion in FDI and gave green light to the establishment of 12,626 foreign-funded firms in the country, up 7.1% and down 7.7% respectively from the same period a year earlier.
The service sector continued to outperform manufacturing and accounted for a greater weight in attracting FDI. Between January and July, the service sector attracted $35.64 billion, up 15.8% from a year earlier and representing 49.9% of total FDI; manufacturing attracted $29.4 billion, down 2.4% from a year earlier and representing 41.2% of total FDI; FDI made in the agricultural sector was up 6.8% from a year earlier to $1.1 billion.
Between January and July, the Unites States invested $2.18 billion in China, up 11.4% from a year earlier; the European Union invested $4.64 billion, up 16.7% from a year earlier; the top 10 Asian countries invested $61.74 billion, up 7.7% from a year earlier.
Although the eastern region took the lion's share of China's total FDI, the western region overshadowed others when it comes to FDI growth. Coastal and eastern China attracted $59.66 billion in FDI in between January and July, up 4.7% from a year earlier and representing 83.6% of total FDI. Central China and western China's FDI was $6.08 billion and $5.66 billion respectively, up 11.8% and 33% respectively from a year earlier.
Separately, the Ministry of Commerce said China's offshore non-financial investment jumped 20% year on year to $50.6 billion in the first 7 months of 2013. Hong Kong, the Association of Southeast Asian Nations, the European Union, Australia, the United States, Russia and Japan were the top seven recipients responsible for 71% of China's offshore nonfinancial investment; their combined amount shot up 76% year on year to $35.7 billion.
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