China FDI, exports surge in December

2010-01-16 10:24 BJT


China's inbound foreign direct investment more than doubled in December from a year earlier as companies poured money into the country amid a strengthening economic revival. Trade figures were also robust in the last month of 2009, reassuring a strong momentum in 2010.

The Ministry of Commerce said on Friday that foreign direct investment into China rose for the fifth consecutive month in December, up 103 percent year-on-year to 12 billion US dollars.

This brought the country's FDI to 90 billion US dollars in 2009, down 2.6 percent from 2008... which was the first fall since 2005, and a direct result of the global economic slowdown.

Over 23 thousand overseas funded ventures entered China in 2009, down 15 percent. But in December alone, China approved 2,800 such companies, an increase of more than 10 percent over a year ago.

On the domestic front, the Ministry of Commerce says exports will make a slow recovery in 2010. The most optimistic hopes are to reach 2008's level.

China's exports surged 17.7 percent in December from the year before, after 13 months of declines. And imports jumped 56 percent.

Yao Jian, Spokesman of Ministry of Commerce, said, "The rebound of China's international trade shows the revival of the global market. The surge of imports shows China is helping the world economy recover."

As the world's third-largest economy, China appears to have entered the Year of Tiger with a lot of momentum. That's believed to have contributed to the central bank's decision on Tuesday to hike bank reserve requirements a half point. It was the first raise since June 2008.

Editor: Zhang Pengfei | Source: