BEIJING - Foreign investment in China rose 11.6 percent in the first three months of this year to US$15.9 billion (euro11.8 billion), the Commerce Ministry said Thursday.

The expansion, reported on the ministry's Web site, was slightly slower than the 13 percent growth rate reported for the January-February period. The ministry gave no reason for the dip.

The top foreign investors included Hong Kong, Japan, South Korea, Singapore and the United States, according to the ministry.

The influx of foreign investment, coupled with China's swelling trade surpluses, has caused a surge in the country's money supply, raising pressure for prices to rise.

The government has responded by draining money from the economy by selling bonds, which has led it to pile up more than US$1 trillion in foreign reserves.