| Shanghai is 2nd largest FDI destination |
|
Foreign direct investment
into China rose for the sixth consecutive month in January, up 7.79%
yoy to US$8.13bn, according to China's Ministry of Commerce.
The
government approved the set-up of 1,866 overseas-funded ventures in
January, an annual rise of 24.73%. FDI mainly flowed into the
manufacturing sector, despite an overall drop in the sector of 11.57%
annually. The sector attracted 48.65% of total FDI. According to a Ministry of Commerce statement, China is encouraging more foreign investment in its central and western regions, developing local labour-intensive industries that meet environmental protection requirements. Foreign investment is also being directed to industries involving high-end manufacturing, new and high technology applications, modern services, new energy, and energy conservation and environmental protection. China is currently the world's second-largest FDI destination, up from sixth place in 2008. Source: Shanghai Business Review |