China's foreign direct investment rose just 0.6% from a year earlier to $8.38 billion in August, with the grow rate plummeting from 24% in July, the Ministry of Commerce said.
The growth rates grew over 20% in June and July, which were much stronger than the less than half a percent in 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 8 months of 2013, China attracted $79.77 billion in FDI and gave green light to the establishment of 14,480 foreign-funded firms in the country, up 6.4% and down 8.2% respectively from the same period a year earlier.
The service sector continued to outperform manufacturing and accounted for the largest weight in attracting FDI. Between January and August, the service sector attracted $39.73 billion, up 13.5% from a year earlier and representing 49.8% of total FDI; manufacturing attracted $32.63 billion, down 3.3% from a year earlier and representing 40.9% of total FDI; FDI made in the agricultural sector was up 1.6% from a year earlier to $1.11 billion.
Between January and August, the Unites States invested $2.5 billion in China, up 18% from a year earlier; the European Union invested $5.44 billion, up 24.3% from a year earlier; the top 10 Asian countries invested $68.63 billion, up 7.9% 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 $66.83 billion in FDI in between January and August, up 5% from a year earlier and representing 83.8% of total FDI. Central China and western China's FDI was $6.93 billion and $6.01 billion respectively, up 10.9% and 17.7% respectively from a year earlier.
Separately, the Ministry of Commerce said China's offshore non-financial investment jumped 18.5% year on year to $56.5 billion in the first 8 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 69.2% of China's offshore nonfinancial investment; their combined amount was up 3% year on year to $39.11 billion.
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