China draws record $105bn FDI in 2010
Beijing, January 18, 2011
China drew a record $105.7 billion in foreign direct investment (FDI) in 2010, with inflows rising more than 17 from the previous year as global firms trooped into the country to tap its vast and growing market.
In December alone, the Ministry of Commerce said on Tuesday that FDI in China grew 15.6 percent from a year ago to $14.0 billion.
According to Reuters calculations, that is a record amount of FDI flowing into China in any single month.
"An improving investment environment in China is the new force that fuelled the growth of FDI in 2010," said Yao Jian, a spokesman at the ministry said at a regular news briefing.
Yao said foreign investment in China's vast rural central and western regions -- where costs are lower -- was especially strong.
In turn, China's investment abroad in non-financial sectors rose 36.3 percent from a year go to $59 billion in 2010, Yao said.
FDI in China, which surged in the years after the country joined the World Trade Organisation in 2001, has bounced back after being hit hard by the global economic slowdown. - Reuters