China's April foreign direct investment up 15.2%
2011-05-17 13:18:31
The value of foreign direct investment in China rose 15.2 per cent in April year-on-year to US$8.46 billion but fell from the previous month, the commerce ministry said Tuesday.
April FDI was down from US$12.52 billion in March, when it rose 32.9 per cent on-year, the ministry said in a statement.
Ministry spokesman Yao Jian did not explain why FDI had dropped in April from the previous month.
The world's second-largest economy attracted US$38.8 billion in FDI during the January-April period, up 26.03 per cent on-year, it said.
Analysts say robust growth in China and expectations for a stronger currency have attracted a growing number of overseas investors hoping for a better return on their money as the United States and Europe remain in the doldrums.
China's economy grew 9.7 per cent year-on-year in the first quarter, beating a Dow Jones Newswires estimate of 9.5 per cent. It was slightly lower than the 9.8 per cent growth rate posted in the final quarter of 2010.
The ministry also said Chinese companies' overseas investment in non-financial sectors reached US$13.4 billion in the first four months of the year, up 17.5 per cent from a year earlier.