Foreign investment in China up 5.48% in first 11 months

BEIJING (AFP) - Foreign investment into China rose 5.48 per cent year on year in the first 11 months of the year, the government said on Wednesday.

Foreign direct investment (FDI), which excludes financial sectors, totalled US$105.5 billion (S$132.8 billion) for January-November, the Ministry of Commerce announced. For November alone, FDI increased 2.35 per cent year-on-year to US$8.48 billion, the ministry said.

Investment from the European Union jumped 17.36 per cent year-on-year to US$6.8 billion during the January-November period, while that from the United States increased 8.6 per cent to US$3.2 billion.

Most investment into China comes from a group of 10 Asian countries and regions, including Hong Kong, Taiwan, Japan, Thailand and Singapore. FDI from them rose 7.45 per cent to US$91.4 billion in the year to November.

China's overseas investment increased 28.3 per cent year-on-year to US$80.2 billion during the same period, the ministry said. While investment going to Hong Kong and Japan decreased 0.6 per cent and 13.3 per cent respectively, investment into Russia surged 685 per cent, while it was also up 232.2 per cent to the US.