FDI up 7.49% in first quarter

Actual foreign direct investment (FDI) rose 7.49% year-on-year in the first quarter according to the Ministry of Commerce, which added that contracted FDI increased 49.15%. The ministry said that during the first quarter the number of projects receiving foreign investment grew 19.57% year-on-year, reaching a total of 10,312 new projects. Since implementing its open and reform policy in the late 1970s, China has absorbed US$515.54 billion in utilized FDI.