China’s FDI Increases 7.86% in October

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Nov. 16 – China’s continued its upward trend of attracting FDI for the 15th consecutive month in October, according to the latest data released by the National Bureau of Statistics of China.

Foreign direct investment into the country came to US$7.66 billion for the month of October, a year-on-year increase of 7.86 percent. Dating back to January, total FDI into China has gone up 15.71 percent when compared to the first 10 months of 2009, totaling US$82 billion.

Foreign currency reserve rose by US$3.3 billion to US$233.1 billion in October – a 14.5 percent growth rate year-on-year.

China’s FDI inflows came back to pre-financial crisis levels for the first time in September and continued to show acceleration through October.

The major factor that motivates China’s steady FDI increase is the country’s strong economic momentum, said Lu Zhengwei, chief analyst for the Industrial Bank (China).