Foreign direct investment rebounded in China in 2006 after a drop in 2005, the International Herald Tribune reported. The Ministry of Commerce said Monday that FDI excluding banks, insurance and securities totalled US$63.02 billion in 2006, a 4.47% hike over 2005. Including the financial sector, the country attracted US$69.47 billion, a drop of 4.06% from 2005. "China is still a very attractive destination for foreign direct investment, despite growing pains such as environmental problems and social friction," said Standard Chartered Bank economist Tai Hui. In the first 11 months of 2006, the cumulative nonfinancial foreign investment was US$54.26 billion, suggesting a total for December of US$8.76 billion, the newspaper reported.
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