China FDI stable, ODI surges
Updated: 2013-03-21 09:48
The first rebound in 9 months, China saw inbound investment grow 6.3 percent on year to $8.2 billion in February. Although the figure is even less than January's $9.3 billion, it is seen as a positive sign.
Ministry of Commerce spokesman Shen Danyang said, "The growth in FDI in February shows the competitiveness of the Chinese economy. Global investors are confident in the investment environment and return prospects."
However the spokesman cautions we cannot judge the overall trend by a single month's figure. Combined FDI in the first two months edged down 1.35 percent. But he is confident that China is able to maintain stable foreign direct investment this year.
"Our projection is a stable performance this year, which means there will be neither a big drop or big growth," Shen Danyang said.
More impressive are numbers for outbound investment. China’s ODI grew a hefty 147% compared to a year ago, and reached $18.4 billion, surpassing the FDI of $17.5 billion in the first two months.