Contracted FDI hits US$145.08b

Foreign direct investment to China reached US$48.4 billion in the first 10 months, down 2.1% from a year earlier, but contracted foreign direct investment money pledged but not yet used  was up 22.5% in the same period, reaching US$145.08 billion, the Ministry of Commerce announced. Meanwhile, the National Bureau of Statistics reported that retail sales rose 12.8% in October year on year, hitting a record US$72 billion. Clothing sales were up 17%, home appliances up 24% and cosmetics, 15%. Telecommunications equipment and vehicles sales both surged 27%.