FDI up 10.3%, contracted investment up 34.5%

China attracted US$8.3 billion in foreign direct investment (FDI) in the first two months of this year, according to data released by the Ministry of Commerce. The FDI for January and February was up 10.3% year-on-year. Contracted foreign investment, was US$19.1 billion during the two-month period, a 34.5% increase over the same period in 2003. Analysts said the FDI growth was good news for China, whose FDI for all of 2003 reached US$53.5 billion, a mere 1.4% increase over 2002. Statistics for January and February are combined to compensate for the economic distortion of the Lunar New Year holiday.