China foreign direct investment climbs 3.4 percent to $8.7B in April

Nathan Andrada – Fourth Estate Cooperative Contributor

Beijing, China (4E) – Foreign direct investment (FDI) into China grew 3.4 percent to $8.7bn in April from the previous year, according to the Ministry of Commerce report released Friday.

The gain compared with the 1.47 percent decline in FDI year on year, the first time the figure fell in more than a year.

The world’s second-largest economy gained $40.3bn in FDI in the first four months of the year, rising 5.0 percent from the previous year, according to Commerce Ministry spokesman Shen Danyang.

Around 55.8 percent of the FDI found its way to the service sector, while that to the manufacturing sector saw a decline of 11.4 percent to $14.5bn, comprising 35.9 percent of the total.

In the January-April period, FDI from South Korea posted the largest increase, jumping 138.5 percent from the same period last year. Meanwhile, FDI from Japan fell 46.8 percent year on year and that from the U.S. declined 11.4 percent year on year.

Outbound direct investment by Chinese non-financial companies slid 12.9 percent to $25.69bn in the first four months of the year, according to the ministry.

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