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China foreign direct investment in October rises to $8.4 billion

Nov. 19, 2013 at 1:11 AM

BEIJING, Nov. 19 (UPI) -- China attracted $8.4 billion of foreign direct investment in October, up 1.2 percent year-on-year, its Commerce Ministry said Tuesday.

October marked the ninth straight monthly increase in the FDI, the ministry said. In September, the FDI totaled $8.84 billion, up 4.88 percent year-on-year.

China Daily reported FDI in the first 10 months of this year totaled $97.03 billion, up 5.8 percent year-on-year. However, the number of new enterprises set up by foreign investment declined 9.2 percent year-on-year to 18,184.

During the 10 months of this year, the ministry said investments from 10 Asian economies increased 7.2 percent year-on-year to $83.6 billion. Investment from the United States went up 12.4 percent to $3 billion in the same period while investments from the European Union jumped 22.3 percent to $6.4 billion.

Officials have said despite various economic challenges at home and abroad, China still maintains "comprehensive advantages" in attracting foreign investment, and that investors' confidence in the country has not changed.