The robust inflows of foreign direct investment that lifted Guangzhou's economy during the first seven months of the year are likely to taper off during the latter part of this year.
Xiong Wenhui of the city's foreign economic and trade commission said the target for growth in the utilisation of foreign investment remained 5 per cent this year, despite a nation-leading 22.5 per cent jump year on year during the first seven months of the year.
Guangzhou reported utilised foreign investment of US$1.91 billion from January to the end of July.
Mr Xiong noted that while a vast majority of Guangzhou's utilised foreign investment continued to arrive from Hong Kong, the mainland city was experiencing challenges due to economic difficulties in the SAR and Southeast Asian countries.
The city, he said, was countering this by attracting more investment from the United States and Europe, with increases of 86.91 per cent, to $71.27 million, and 60.62 per cent, to $120.37 million.
But the director hinted that the high growth rates experienced in the first half of the year were unlikely to be repeated in the second half.
