FDI grows steadily amid reform drive
Updated: 2013-11-20 11:16
By Li Jiabao (China Daily)
|
|||||||||
Foreign direct investment in China grew steadily in the first 10 months of the year amid sweeping government reforms that are expected to reshape the world's second-largest economy.
FDI was up 5.77 percent year-on-year at $97.03 billion during the period, the Ministry of Commerce said on Tuesday.
October marked the ninth straight monthly increase in FDI, which rose 1.24 percent to $8.42 billion, compared with 4.88 percent in September and just 0.62 percent in August.
Investment from 10 Asian economies rose 7.18 percent to $83.63 billion, while that from the United States increased 12.41 percent to $3.04 billion.
European Union-sourced FDI went up 22.26 percent to $6.4 billion, said the ministry.
"China's FDI inflows were, on the whole, steady in the first 10 months. The country's economic growth, though slowing, is still outstanding in the world and retained the interest of global investors," said Wang Jun, an expert at the China Center for International Economic Exchanges.
"As the new leadership deepens economic reforms, including loosening investment access to the Chinese market, China will retain strong attractiveness to global investment over quite a long term. Overall, I'm optimistic, and I don't worry about FDI inflows," Wang said.
He added that as traditional industries lose their competitiveness, high-end sectors - including research and development, design and services - will become more attractive to global investors, which is in line with the government's efforts to improve the quality and structure of FDI.
- Tourism year proves a big hit
- China is ready to send med team to Philippines
- 150 years later, Lincoln's speech long remembered
- Girl's killer gives new evidence
- Rural migrants set to benefit from country's urbanization reform
- Harbin hit by heaviest snowfall since records began
- Investing in rural teachers paying off
- US envoy to Japan Caroline Kennedy meets emperor
Most Viewed
Editor's Picks
The way of kindness |
Intl attention on reform agenda for China |
A second opportunity |
Luxury giants tap into mainland market |
Aiming for 100,000 |
Tourism opens the road to riches |
Today's Top News
China's reform is of significance to world
Suning sets up R&D shop in California
Japanese business leaders visit China
China is ready to send med team to Philippines
VP outlines how to fix schools
Fosun to invest in US oil, natural gas sector
In Asia-Pacific, HIV still high
Tourism year proves a big hit
US Weekly
Geared to go |
The place to be |