China FDI Up in October

Foreign direct investment into the Chinese mainland rose 5% year on year to reach 60.12 billion yuan ($9.05 billion) last month, data showed Tuesday, Xinhua reported. The growth slowed down in comparison with September when the country’s FDI rose 17.3%, according to data from the ministry of commerce. In the first 10 months, the country’s FDI hit 678.7 billion yuan, up 1.9% from the same period a year ago and higher than the 1.6% increase for January-September period. FDI in the manufacturing sector continued to grow while high-tech manufacturing and service industries maintained strong growth. From January to October, the manufacturing sector attracted FDI worth 195.91 billion yuan, up 6.1% year on year, accounting for 28.9% of the total FDI. The service sector drew 470.52 billion yuan, or 69.3% of the total. FDI in production and supply of power, gas and water rose 74.3% year on year. Some 56.65 billion yuan flowed into the high-tech manufacturing sector, an increase of 22.9% year on year.