China’s inbound foreign investment surges 18.7 per cent in August, as bank loans grow more than expected
- Foreign direct investment into China increased 18.7 per cent in August from a year earlier, to 84.13 billion yuan (US$12.3 billion)
- Chinese banks extended 1.28 trillion yuan (US$187.7 billion) worth of loans in August, up 29 per cent from July
Foreign direct investment (FDI) into China jumped 18.7 per cent in August from a year earlier, to 84.1 billion yuan (US$12.3 billion), the commerce ministry said on Friday.
In the January-August period, FDI rose 2.6 per cent from a year earlier, to 619.8 billion yuan.
The investment inflows into China come as Beijing steps up efforts to woo foreign businesses, including American firms, to help offset an increasingly unstable external environment. In recent months, China has clashed with Washington over Hong Kong, the coronavirus pandemic, the South China Sea and Xinjiang.
Meanwhile, Chinese banks extended 1.28 trillion (US$187.25 billion) in new yuan loans last month, up 29 per cent from July and slightly exceeding analysts’ expectations, according to data released by the People’s Bank of China (PBOC) on Friday.
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