China FDI growth steady despite slowing economy

Beijing, Feb 15 (IANS) Foreign direct investment (FDI) in China continued to grow steadily in January despite slowing growth in the world’s second largest economy.

FDI, which excludes investment in the financial sector, rose 3.2 percent year on year to $14.07 billion in January, Xinhua cited the Ministry of Commerce (MOC) as saying on Monday.

Investment in the country’s burgeoning service sector accounted for 67.6 percent of total inflow during the period.

FDI in the high-tech service industry more than doubled to 7.2 billion yuan ($1.1 billion).

China’s economy grew by 6.9 percent year on year in 2015, its lowest annual expansion in a quarter of a century.

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