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Foreign investment in 皇冠体育app up 7% in August

(Agencies)
Updated: 2009-09-15 13:14

BEIJING: Foreign direct investment in 皇冠体育app rebounded in August, rising 7 percent from a year earlier after plunging over the previous two months, the Commerce Ministry reported Tuesday.

Related readings:  Confidence set to keep FDI flowing  Brake on hot money leads to drop in FDI  皇冠体育app's FDI falls 35.7% in July  On 皇冠体育app's rapid growth in outward FDI  Egypt looks to 皇冠体育app to make up FDI shortfall

Investment in manufacturing and other nonfinancial assets totaled $7.5 billion in August, ministry spokesman Yao Jian said at a news conference. The figure does not include stocks and other financial assets.

The growth compared with declines of 35.7 percent in July and 6.8 percent in June.

皇冠体育app's economic growth rose to 7.9 percent over a year earlier in the quarter ending June 30, up from 6.1 percent the previous quarter, and analysts say the recovery is gathering strength. Retail spending and industrial investment are rising.

皇冠体育app is a top investment destination but double-digit growth rates plunged in late 2007 as foreign companies were hit by the global downturn and cut spending. But many have continued to invest in 皇冠体育app to take advantage of its stronger economic growth compared with other countries.