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ECONOMY
THIS WEEK> THIS WEEK NO. 48, 2014> ECONOMY
UPDATED: November 24, 2014 NO. 48 NOVEMBER 27, 2014
FDI Inflows Rise
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Foreign direct investment (FDI) into the Chinese mainland rose 1.3 percent in October year on year to $8.53 billion, the Ministry of Commerce (MOFCOM) said on November 18.

The rate of growth was lower than the 1.9 percent growth in September, after a 14-percent slump in August.

For the first 10 months, the FDI, which excludes investment in the financial sector, totaled $95.9 billion, down 1.2 percent from the same period last year. The decline is less than the 1.4 percent fall registered in the first nine months and 1.8 percent drop posted for the first eight months.

Among the 10 major investors, FDI from South Korea increased 26.4 percent year on year in the first 10 months while that from Britain expanded 32.4 percent.

In contrast, investment from Japan plunged 42.9 percent and that from the United States 23.8 percent. European Union investment was down 16.2 percent.

MOFCOM spokesman Shen Danyang attributed the declines to restructuring of China's manufacturing industry that used to attract the majority of this kind of investment.

FDI into the manufacturing sector in the January-October period declined 15.1 percent year on year to $32.5 billion. The service sector attracted $53.1 billion, up 6.6 percent.



 
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