China FDI surges despite weak economic growth

Foreign direct investment (FDI) into China gained pace in July despite the economic slowdown, Reuters reported, citing a government report. China drew US$71.4 billion in FDI in the first seven months of 2013, up 7.1% from the same period of 2012, according to the Ministry of Commerce. In July alone, China attracted US$9.4 billion in FDI, up 24.1% from a year ago, quickening from the 20.1% pace in June, although the amount was lower than June’s US$14.4 billion. “This shows that foreign investors are still very confident in China’s investment environment,” said Shen Danyang, the ministry’s spokesman.