China FDI up 34.2 per cent in US dollar terms in January-February

In yuan terms, foreign direct investment (FDI) in China rose 31.5 per cent in January and February compared to a year earlier

Investment in service sector projects accounted for 80 per cent of FDI inflows in the first two months of 2021

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In US dollar terms, foreign direct investment (FDI) in January and February rose by 34. 2 per cent to US$26.07 billion, Ministry of Commerce reported on Friday. Photo: Reuters

Published: 4:15pm, 12 Mar 2021Updated: 4:14pm, 12 Mar 2021

Foreign direct investment (FDI) in China, excluding the banking, securities and insurance sectors, stood at 176.76 billion yuan in January and February, up 31.5 per cent compared to the same period a year earlier, the Ministry of Commerce reported on Friday.

In US dollar terms, FDI in January and February rose by 34. 2 per cent to US$26.07 billion, the ministry said.

FDI in China shrank at the start of 2020 due to the impact of the coronavirus, meaning the latest figures are from a low base.

FDI in the Chinese services industry, including the financial sector, was 141.74 billion yuan in January and February, a year-on-year increase of 48.7 per cent and accounting for 80.2 per cent of the country’s FDI in the first two months of the year.

Among the service sectors, FDI in business services rose by 70.3 per cent year on year, while investment in the wholesale and retail industry rose by 54.1 per cent. Investment in the accommodation and catering industry also rose by 45.6 per cent.