China's foreign direct investment rises 5.8%

BEIJING–China attracted $15.66 billion in foreign direct investment in June, up 5.8% from a year earlier, the Commerce Ministry said Thursday.

Over the first six months of the year, China’s FDI rose 4.1% from a year ago to $68.32 billion, the ministry said.

Foreign investment from the U.S. accounted for 29% of the total in the January-June period. Investment in the high-tech manufacturing sector, such as telecommunication and medical-equipment manufacturing, continued to post a high growth rate during the period, it said.

A trade battle with the U.S., complaints by foreign businesses about unfair regulation and economic headwinds at home have prompted Beijing to redouble its efforts to court foreign investment. A Commerce Ministry spokesman told reporters Thursday that Beijing would like to see American companies lobby the Trump administration to remove punitive tariffs placed on Chinese goods.

The spokesman said that the U.S. push to impose to tariffs, if continued, would hurt the world economy. He said that no negotiations with the U.S. are currently underway, and that an escalation in trade frictions depends on what the U.S. does.

— Lin Zhu

Dow Jones Newswires

More from MarketWatch

Read More Here...

Bookmark the permalink.