Poochandi

December 15, 2010

Foreign Direct Investment in China jumped more than 38 percent from a year earlier in November as businesses sought to tap into the country's fast growth.

The USD 9.7 billion in foreign investment in November was the 16th consecutive monthly gain, the official Xinhua News Agency said Wednesday, citing Commerce Ministry data.

The ministry reported earlier that actual use of foreign capital climbed 16 percent from a year earlier in January-October, to USD 82 billion. The biggest share came from other Asian countries, with Hong Kong leading at USD 51 billion, followed by Taiwan at USD 5.7 billion.

Foreign direct investment rose 7.9 percent in October to USD 7.7 billion, up from a 6.1 percent increase in September, despite a decline in China's rapid economic growth in recent months.

Foreign investment rebounded earlier this year from the global financial crisis but lagged in August before the latest recovery.