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FDI jumps 7.5% to $10b in nonfinancial sector
Updated: Jun 18, 2020
By Zhong Nan
chinadaily.com.cn
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China saw foreign direct investment in the nonfinancial sector surge 7.5 percent on a yearly basis to 68.63 billion yuan ($9.87 billion) in May, the Ministry of Commerce said on Thursday.
FDI fell by 3.8 percent year-on-year in the country to 355.18 billion yuan in the first five months of this year, the ministry said.
Global capital flows into China's high-tech industries grew by 2 percent on a yearly basis between January and May.
In the meantime, information services saw 42.3 percent year-on-year growth in FDI flows, while e-commerce businesses notched up gains of 67.9 percent on a yearly basis. Innovation and design services was another major gainer with a 49.8-percent growth in FDI flows on a yearly basis.
Investment in China by economies related to the Belt and Road Initiative rose 6 percent year-on-year and that of the Association of Southeast Asian Nations soared 10.1 percent in the first five months, according to the ministry.
