FDI in China up 17% in 2010

China’s Ministry of Commerce (MofCom) released figures showing that foreign direct investment (FDI) in China reached a new record in 2010, increasing 17% year-on-year, the Wall Street Journal reported. FDI in China passed the US$100 billion mark for the first time to US$105.74 billion, reversing the 2.6% decline in 2009. About 23% of FDI into China flowed into real estate last year. A MofCom spokesperson also urged the US to open up to Chinese direct investment, in particular in the steel and manufacturing sectors. MofCom wants US laws on foreign investment by foreign firms to be made more transparent.