FDI up 61.3% in Q1

Foreign direct investment (FDI) in China in the first quarter rose by 61.3% to US$27.4 billion, XFN-Asia reported, citing a statement from the commerce ministry. The first quarter saw 6,949 new foreign-funded enterprises, representing a decrease of 25.2% from a year earlier. Investment for March was up 39.6% year-on-year to US$9.3 billion. New US-funded companies were down by 31.9% from the previous year, though invested capital increased by 37.51%. Hong Kong, the British Virgin Islands and Singapore were the top three sources of FDI in the first quarter.