China's FDI rises by 9.8% to $122 bn in first 11 months

The FDI growth was much faster than the 1.9 per cent year on year increase registered in the first 10 months.

In November alone, the Foreign Direct Investment (FDI) hit 124.92 billion yuan, up 90.7 per cent year on year, Ministry of Commerce (MOC) spokesperson Gao Feng said.

The growth rate was dramatically higher compared with October, when the country's FDI rose by 5 per cent year on year, the Ministry said.

The FDI in the service sector posted strong growth while the manufacturing industry continued to rise. In the first 11 months, the FDI in the service sector climbed 13.5 per cent year on year to 582.75 billion yuan or 72.5 per cent of the total, the Ministry said. The FDI increased by 9.8 per cent year on year to reach 803.62 billion yuan (around $122 billion) in the first 11 months, it said.

China's non-financial Outbound Direct Investment (ODI) from January to November fell by 33.5 per cent year on year as authorities curbed irrational investment overseas, it added.

Chinese investors spent a total of $107.55 billion on 5,796 enterprises from 174 countries and regions during the period.

The decline narrowed from 40.9 per cent drop for the first 10 months this year, Gao said, adding that "irrational outbound investment has been further curbed".

China's ODI has seen rapid growth in recent years.

Noting an "irrational tendency" in outbound investment, Chinese authorities have set stricter rules and advised companies to make investment decisions more carefully since last year. Investment in the first 11 months mainly went to leasing and commercial services, manufacturing, wholesale and retail, and information technology sectors, the Ministry statement said.