China's foreign direct investment (FDI) jumped 9.7 percent in June from a year earlier, official data showed yesterday, recovering from a 1 percent drop in May and hitting a 10-month high.
The total of FDI received by China last month was 98.2 billion yuan, or $15.2 billion, the Commerce Ministry said in a statement on its website.
In the first half of 2016, FDI rose 5.1 percent from the same period a year earlier to 441.76 billion yuan, or $69.42 billion, according to the statement.
The ministry has started releasing yuan-denominated FDI since early 2015, along with equivalent dollar figures based on its own conversion.
Foreign investment in the services sector rose 8 percent in January-June to 310.8 billion yuan, or $48.9 billion, accounting for 70.4 percent of all FDI, said the ministry, with investment in high-tech services soaring 99.7 percent from a year earlier.
Investment in the manufacturing sector fell 2.8 percent in January-June from a year earlier to 124.9 billion yuan, or $19.5 billion, making up for 28.3 pct of total FDI, the ministry said.
The ministry did not give numbers for FDI by specific countries and did not rank the biggest suppliers, though it said the United States, Britain and Germany were among the top 10 sources.
FDI from the United States soared 136 percent in January-June from a year earlier, investment from Britain rose 105.3 percent and that from Germany by 90.3 percent, the ministry said.
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Research Associate at Center for Islam and Global Affairs (CIGA) at Istanbul Sabahattin Zaim University