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China’s FDI touches $103.7 billion till October

FDI into China rose 4.2% year on year to $8.77 billion in October taking the foreign investment inflows to $103.7 in the last 10 months of this year, the Chinese Ministry of Commerce said.

The growth slowed from a 7.1% rise in September, state run Xinhua news agency reported.

For the first 10 months, FDI, which excludes investment in the financial sector, stood at $103.7 billion, up 8.6% from the same period last year.

Foreign investment in the service industry rose 19.4%, with the high-tech service sector seeing a jump of 57.5% to $6.76 billion.

High-tech manufacturing attracted $7.58 billions of foreign investment during the January-October period, up 11.6% and accounting for 23.3% of total foreign investment in manufacturing.

Investment from the ASEAN, European Union, Hong Kong, and Macao continued to grow fast, while that from Japan, the United States and Taiwan dropped significantly.

The ministry also noted that more foreign firms invested in China through mergers and acquisitions, which accounted for 15.4% of the total FDI in January-October, up from 6% in the same period last year.