Foreign direct investment in China jumps 20.1%

Foreign direct investment (FDI) into China surged 20.1 percent from a year earlier to USD to 14.4 billion in June, the sharpest growth since March 2011 and up for the fifth straight month, the Chinese Commerce Ministry said Wednesday. In the first half of 2013, the world's second-biggest economy's FDI inflow grew 4.9 percent on the year to USD 62.0 billion, according to figures released by the ministry. FDI from Japan increased 14.4 percent in the first six months from a year earlier to USD 4.7 billion. The European Union and the US also remained China's major source of foreign funds in the January-June period, up 14.7 percent and 12.3 percent on the year to USD 4.0 billion and USD 1.8 billion, respectively, the ministry said. China's economy expanded 7.5 percent year-on-year in the second quarter, further slowing from 7.7 percent growth in the first quarter, the government said Monday. "The FDI increase proved the competitiveness of the Chinese economy and international investors' recognition of the investment environment in China," ministry spokesman Shen Danyang told a press conference in Beijing, according to state-run Xinhua News Agency. "But we cannot conclude that China's FDI has rebounded by simply looking at just a single-month's data. We expect the FDI in the second half to grow steadily," Shen added.