Foreign direct investment in China rises in Jan-Oct period

According to the official data released by the Chinese Ministry of Commerce, foreign direct investment (FDI) in China increased 4.2% on a yearly basis and reached 666.3 billion yuan (around 98 billion USD) in the first ten months of 2016. When it is compared with the January-September period, the growth rate was flat.

The Ministry of Commerce stated that FDI grew mainly in the service sector and high-tech services. FDI in the service sector rose 9.1% on year while FDI in high-tech services jumped 90.2% to reach 79.18 billion yuan ($11.49 billion) from the previous year.

Data shows that FDI in China’s western regions, which are considered as less developed parts, increased by a larger ratio of 29.8% to reach 49.27 billion yuan ($7.15 billion ) year on year while FDI in more developed eastern parts of the country rose 6.9% to reach 582.82 billion yuan ($84.60 billion).