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China receives USD 63.33 billion FDI in H1 this year

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China received USD 63.33 billion Foreign Direct Investment (FDI) in the first six months of 2014, a 2.2 % increase compared to the same period last year.

More foreign investment made its way to the service sector ahead of manufacturing for which the country was famous for.

FDI into China reversed the decline seen in May, edging up 0.2 % year-on-year to USD 14.42 billion in June, the Ministry of Commerce said on Tuesday.

In the first six months, the FDI, which excludes investment in the financial sector, stood at USD 63.  33 billion up 2.2 % from the same period last year, the ministry said.

In January-June, the FDI in the service sector climbed 14.8 % year-on-year to USD 35.2 billion, accounting for 56 % of the total FDI; and that in the manufacturing sector dropped 13.9 % to USD 22.8 billion or 36 % of the total.

Investment from the Republic of Korea and the UK remained robust in the first six months, up 45.6 % and 76.4 % year-on-year, respectively.

But FDI from Japan slumped 48.8 % year-on-year and FDI from the United States went down 4.6 % year-on-year, state run Xinhua news agency reported.

At the same time, China's outbound direct investment by non-financial firms dropped 5 % to USD 43.34 billion in the first half of the year, the ministry said.

China's last year outbound direct investment went up to about USD 100 billion as it stepped up overseas investments in recent years. 

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