Economy

China's FDI grows 27.48% in May

(Xinhua)
Updated: 2010-06-12 11:23

BEIJING - The amount of foreign direct investment (FDI) into China in May rose by 27.48 percent year on year to 8.13 billion U.S. dollars, said Yao Jian, spokesman of the Ministry of Commerce (MOC), Saturday.

The figure brought the country's FDI to 38.92 billion U.S. dollars in the first five months, an increase of 14.31 percent from a year earlier.

Yao said that in the first five months, FDI mainly flowed into the manufacturing sector, accounting for 47.32 percent of the total, despite a fall of 3.85 percent in the amount.

The service sector saw actual inflow of the FDI up 32.05 percent from a year earlier, while FDI in the primary sector, including farming, fishery and forestry, rose 85.49 percent year on year, which accounted for 1.63 percent of the total FDI in the first five months.

China approved the establishment of 9,638 overseas-funded ventures in the first five months, up 22.15 percent from the same period ?of last year.In May alone, the government approved 2,132 such companies, representing a year-on-year increase of 29.29 percent.

Related reading: China's May CPI up 3.1%