As foreign corporate investors remain undeterred by China’s weakening domestic economic performance, foreign direct investment (FDI) into the Chinese mainland rose 5.2 per cent year on year in July, an acceleration from 0.7 per cent growth recorded in June, official data showed Thursday.
In the first seven months, FDI grew 7.9 per cent to 471.1 billion yuan ($76.6 billion), the Ministry of Commerce said.
The FDI news follows a series of underwhelming data releases, highlighting growth in industrial production, fixed-asset investment and retail sales all slowed in July.
Foreign investment projects take time to conceive and implement, making FDI a lagging indicator of general confidence, but they have remained strong in recent months nevertheless.
Last year, China drew a record $119.6 billion of FDI, while outbound investment rose 14.1 percent to a new high of $102.9 billion.
TBP and Agencies