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China's FDI inflow rebounds

Last Updated: Tuesday, March 19, 2013 - 15:33

Beijing: Foreign direct investment (FDI) into China expanded by 6.32 percent year on year in February, increasing for the first time since June 2012, according to data revealed by the commerce ministry Tuesday.

FDI inflow in February stood at USD 8.21 billion, ending a streak of declining for eight consecutive months, commerce ministry spokesman Shen Danyang told a press conference here.

In February, China approved the establishment of 1,032 foreign-invested enterprises, down 35.62 percent from a year earlier, Xinhua quoted Shen as saying.

In the first two months of 2013, total FDI inflow dropped 1.35 percent to USD 17.48 billion from the same period last year.

Investment into China's service sector grew slightly by 5.49 percent to USD 8.45 billion in the first two months, while investment in agricultural and manufacturing sectors dropped 43.22 percent and 10.64 percent, respectively, according to Shen.

The European Union's investment in China surged 34.01 percent to USD 1.21 billion, while FDI from the US dropped 5.37 percent to USD 497 million.

IANS

First Published: Tuesday, March 19, 2013 - 15:33
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