China’s FDI edges up

Beijing, June 18 (IANS) China’s actual use of foreign capital in May stood at $9.26 billion, up 0.29 percent year on year, the commerce ministry announced Tuesday.

This marked the fourth consecutive monthly increase since February, when China reported an FDI recovery after declining for eight consecutive months since June 2012, reported Xinhua.

During the first five months, inbound investment increased 1.03 percent from a year earlier to $47.6 billion, data show.

From January to May, China approved the establishment of 8,609 foreign-invested enterprises, down 7.04 percent from a year earlier.

The service sector saw a steady increase of FDI inflows in the first five months, up 4.03 percent year on year and accounting for 48.31 percent of the total FDI inflow during the period.

Foreign investment into China’s manufacturing sector fell 1.39 percent, taking a 43.87-percent share in the FDI inflow, Shen said.

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