The amount of foreign direct investment (FDI) into China in May rose by 27.48% year-on-year to US$8.13 billion, said Yao Jian, spokesman of the Ministry of Commerce (MOC).

The figure brought the country´s FDI to 38.92 billion U.S. dollars in the first five months, an increase of 14.31% from a year earlier. Yao said that in the first five months, FDI mainly flowed into the manufacturing sector, accounting for 47.32% of the total, despite a fall of 3.85% in the amount.

The service sector saw actual inflow of the FDI up 32.05% from a year earlier, while FDI in the primary sector, including farming, fishery and forestry, rose 85.49% as compared with last year, which accounted for 1.63% of the total FDI in the first five months.

China approved the establishment of 9,638 overseas-funded ventures in the first five months, up 22.15% from the same period of last year. In May alone, the government approved 2,132 such companies, representing a year-on-year increase of 29.29%.

Source: China Textile Leader