Foreign direct investment in China continued to recover in September, rising 19% from a year earlier to 7.9 billion USD, the Chinese Commerce Ministry announced on October 15.
However, actual foreign direct investment for the first nine months of the year totaled 63.8 billion USD, a 14% decline from the same period of 2008, the ministry said.
There was a nearly 11% increase in the number of newly approved foreign invested companies in September, suggesting that China's economic recovery is attracting investment after a lull earlier in the year.
The September rise in foreign direct investment compared with a 7% year-on-year increase in August, and declines of 35.7% in July and 6.8% in June. These figures do not include stocks and other financial assets.
China's economic growth rose to 7.9% year-on-year in the quarter ending June 30, up from 6.1% the previous quarter, and analysts say the recovery is gathering strength. Retail spending and industrial investments are rising.
China is a top investment destination but double-digit growth rates plunged in late 2007 as foreign companies were hit by the global downturn and subsequently cut their spending. But many companies are continuing to invest in China to take advantage of its stronger economic growth compared with other countries.
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News category: China
Published on this site: Oct. 15, 2009
Source: chinadaily.com.cn