China's FDI edges up 0.29% in May

BEIJING --?China's actual use of foreign capital in May stood at $9.26 billion, up 0.29 percent year on year, the Ministry of Commerce (MOC) announced Tuesday.

This marked the fourth consecutive monthly increase since February, when China reported an FDI recovery after declining for eight consecutive months since June 2012.

During the first five months, inbound investment increased 1.03 percent from a year earlier to $47.6 billion, data show.

From January to May, China approved the establishment of 8,609 foreign-invested enterprises, down 7.04 percent from a year earlier.

The service sector saw a steady increase of FDI inflows in the first five months, up 4.03 percent year on year and accounting for 48.31 percent of the total FDI inflow during the period.

Foreign investment into China's manufacturing sector fell 1.39 percent, taking a 43.87 percent share in the FDI inflow, Shen said.

In breakdown, direct investment from the European Union and the United States jumped 24.13 percent and 22.62 percent, respectively, to $3.45 billion and $1.58 billion in the first five months.

Regionally, China's western regions saw strong growth in foreign investment, with an increase of 22.54 percent, compared with a 8.19-percent gain for the central regions and 1.29-percent drop for the east.

Meanwhile, Chinese investment in overseas non-financial sectors rose 20 percent year on year to $34.3 billion in the first five months.