China FDI Grows by 6.32 percent in February

Foreign direct investment (FDI) into China expanded by 6.32 percent year on year in February, increasing for the first time since June 2012, according to data revealed by the Ministry of Commerce (MOC) on Tuesday.

FDI inflow in February stood at 8.21 billion U.S. dollars, ending a streak of declining for eight consecutive months, MOC spokesman Shen Danyang told a press conference here.

“The rebound is a heartening fact,” Shen said, adding that it showed the competitiveness of China’s economy and foreign investors’ confidence in the country’s business environment and growth prospects.

In February, China approved the establishment of 1,032 foreign-invested enterprises, down 35.62 percent from a year earlier, Shen said.

In the first two months of 2013, total FDI inflow dropped 1.35 percent to 17.48 billion U.S. dollars from the same period last year.

via Xinhua

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza