China receives $63.33 bn FDI in H1 this year

Written by PTI | Beijing | Updated: Jul 15 2014, 19:16pm hrs
China FDIChina received $?63.33 billion?FDI in the first six months of 2014. (Reuters)
China received $63.33 billionForeign Direct Investment (FDI) in the first six months of 2014, a 2.2 per centincreasecompared to the same period lastyear.

More foreign investment made its way to the service sector ahead of manufacturing for which the country was famous for.

FDI into China reversed the decline seen in May, edging up 0.2 per cent year-on-year to USD 14.42 billion in June, the Ministry of Commerce said on Tuesday.

In the first six months, the FDI, which excludes investment in the financial sector, stood at USD 63.

33 billion up 2.2 per cent from the same period last year, the ministry said.

In January-June, the FDI in the service sector climbed 14.8 per cent year-on-year to USD 35.2 billion, accounting for 56 per cent of the total FDI; and that in the manufacturing sector dropped 13.9 per cent to USD 22.8 billion or 36 per cent of the total.

Investment from the Republic of Korea and the UK remained robust in the first six months, up 45.6 per cent and 76.4 per cent year-on-year, respectively.

But FDI from Japan slumped 48.8 per cent year-on-year and FDI from the United States went down 4.6 per cent year-on-year, state run Xinhua news agency reported.

At the same time, China's outbound direct investment by non-financial firms dropped 5 per cent to USD 43.34 billionin the first half of the year, the ministry said.

China's last year outbound direct investment went up to about USD 100 billion as it stepped up overseas investments in recent years.