China sees double-digit growth in January FDI

Foreign direct investment (FDI) into China reached US$10.76 billion in January, an increase of 16.1% from a year earlier, Reuters reported, citing a Tuesday statement by the Ministry of Commerce. Ministry spokesman Shen Danyang told a media briefing that the rising FDI shows that confidence in China’s economy remains firm even as growth cools. The majority of the new investment, some US$6.33 billion, went into China’s services industry, while investment in manufacturing fell 21.7%. Investment from 10 Asian countries and regions rose 22.2% to US$9.55 billion, while investment from the US rose 34.9% to US$369 million.