China's foreign direct investment rose 20.1% from a year earlier to $14.39 billion in June, marking the fifth straight month of year on year increase, the Ministry of Commerce said.

The growth rate was 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 half of 2013, China attracted $61.98 billion in FDI and gave green light to the establishment of 10,630 foreign-funded firms in the country, up 4.9% and down 9.2% respectively from the same period a year earlier.

The service sector continued to outperform manufacturing and accounted for a greater weight in attracting FDI. During 1H 2013, the service sector attracted $30.62 billion in FDI, up 12.4% from a year earlier and representing 49% of total FDI; the manufacturing sector attracted $26.44 billion, down 2.1% from a year earlier and representing 42% of total FDI; FDI made in the agricultural sector was up less than 1% from a year earlier to $894 million.

In 1H 2013, the Unites States invested $1.83 billion in China in 1H 2013, up 12.3% from a year earlier; the European Union invested $4.04 billion, up 14.7% from a year earlier; the top 10 Asian countries invested $53.78 billion, up 5.3% 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 $51.17 billion in FDI in 1H 2013, up 1.7% from a year earlier and representing 82.6% of total FDI. Central China and western China's FDI was $5.58 billion and $5.23 billion respectively, up 15.8% and 32.5% respectively from a year earlier.

Separately, the Ministry of Commerce said China's offshore non-financial investment jumped 29% year on year to $45.6 billion in 1H 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.

You are currently reading words of total words in this article.
To continue reading this article, you must be a subscriber. Log in now..

Finish this article for free.
C-M-O-D-O AUTHENTIC SITE PayPal
@2014 China Economy @ China Perspective.
All Right Reserved.
Server SSL Certificate