China drew USD 91.7 bn in foreign direct investment (FDI) in the first 11 months of 2010, 17.7% more than in the same period of 2009, the Ministry of Commerce said on Wednesday.
China is on course to attract USD 100 bn in FDI this year, commerce ministry spokesman Yao Jian said.
It would be the first time that China's intake crossed the USD 100 bn mark, clear evidence that investment flows into the world's second-largest economy remain strong despite worries about rising labour costs.
In November alone, China attracted USD 9.7 bn in FDI, up 38.17% from the same month of 2009, the ministry said.
Inflows, which surged in the years after the country joined the World Trade Organisation in 2001, were hit hard by the global economic slowdown, but have staged a recovery this year.
Although China has a tight regime of capital controls, there is concern that some hot money has been entering the country in the guise of legitimate trade and investment flows. Yao said the commerce ministry would work to ensure that no FDI cash was being illegally redirected into asset markets.
China is on course to attract USD 100 bn in FDI this year, commerce ministry spokesman Yao Jian said.
It would be the first time that China's intake crossed the USD 100 bn mark, clear evidence that investment flows into the world's second-largest economy remain strong despite worries about rising labour costs.
In November alone, China attracted USD 9.7 bn in FDI, up 38.17% from the same month of 2009, the ministry said.
Inflows, which surged in the years after the country joined the World Trade Organisation in 2001, were hit hard by the global economic slowdown, but have staged a recovery this year.
Although China has a tight regime of capital controls, there is concern that some hot money has been entering the country in the guise of legitimate trade and investment flows. Yao said the commerce ministry would work to ensure that no FDI cash was being illegally redirected into asset markets.
No comments:
Post a Comment