Foreign Direct Investment in China Climbs 7.9%

Foreign companies invested US$7.66 billion in China last month, or US$82 billion for the first 10 months, a rise of 15.7% from a year ago, reports the South China Morning Post.

 

Citing the Ministry of Commerce, the Post says the growth represented the 15th consecutive monthly gain, indicating growing confidence among investors.

 

Ken Wilcox, chief executive with SVB Financial Group, told the Post that the bank was attracted by China's "huge opportunities."

 

Other companies, such as home furnishing retailer Ikea and sporting-goods maker Adidas, are increasing expansion on the mainland.

 

The growth, along with a US$27 billion trade surplus last month, is expected to add to pressure for Beijing to allow the yuan to appreciate faster and constrain the inflows betting on higher returns on the world's second-largest economy, says the Post.

 

 

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