China's Jan FDI inflow rises 16.11 pct

Foreign direct investment (FDI) into the Chinese mainland rose 16.11 percent year on year in January to reach 10.76 billion U.S. dollars, the Ministry of Commerce said on Tuesday.

The growth rate marked a surge from the 3.3-percent increase in December.

FDI in the country's service sector gained 57.02 percent in January to reach 6.33 billion U.S. dollars, or 58.8 percent of the total, the ministry's spokesman Shen Danyang said at a press conference.

In contrast, manufacturing sector inflows dropped 21.69 percent to 3.47 billion U.S. dollars.

FDI from 10 major Asian economies climbed 22.16 percent to 9.55 billion U.S. dollars, including a 37.69-percent rise from Hong Kong, and a 197.92-percent rise from the Republic of Korea.

The ministry said FDI from the European Union fell 41.25 percent but that from the United States posted a solid gain of 34.9 percent to reach 369 million U.S. dollars.

With an inflow of 8.21 billion U.S. dollars, the affluent east of China continues to grab the lion's share of FDI. However, Tuesday's data showed the country's central and western regions have become increasingly attractive for foreign investors.

January's inflows to the central region stood at 1.57 billion U.S. dollars, up 89.07 percent from a year earlier. The west bagged 989 million U.S. dollars, up 71.73 percent.

China's outbound direct investment by non-financial firms increased 47.2 percent year on year in January to 7.23 billion U.S. dollars, the ministry said.