Foreign direct investment into the Chinese mainland gained 2.35 per cent in November from a year ago to $8.48 billion US, an increase for ten consecutive months, China’s Ministry of Commerce said on Wednesday.
Notwithstanding the capital exodus scare in emerging markets, China has seen a steady inflow of FDI this year.
The rate of growth in November was higher from the 1.24 per cent rise in October. FDI for the first nine months of the year totaled $88.6 billion, up 6.2 per cent from the year earlier.
China became the first FDI destination in 2012, according to the Paris-based Organisation for Economic Cooperation and Development (OECD) figures.
Last year, China attracted the lion’s share of global FDI hosting $253 billion or 18 per cent of the global total.
The new Chinese leadership are gradually pushing structural reforms in the world’s second largest economy that include creating a level corporate playing field that doesn’t favor state-owned companies.
The Chinese President Xi Jinping has recently said he would ensure “level playing field for all market players”.