FDI up 53% in October

China's inflow of foreign investment in October grew by 53%, taking the total for the first 10 months above that for the whole of 2003, official figures showed. Actual foreign direct investment (FDI) reached US$53.781bn to October, up 23.47% year-on-year, according to the Ministry of Commerce. Contracted direct investment, an indicator of future trends, increased by 34.19% to US$119bn in the same period. China's total inflow of FDI in 2003 reached US$53.5 billion and officials expect it to top US$60bn this year.