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China FDI up 2.2% in March to US$12.4, outbound investment also rises

[BEIJING] China drew US$12.4 billion in foreign direct investment (FDI) in March, up 2.2 percent from a year earlier, the Commerce Ministry reported on Thursday, while outbound non-financial investment rose 0.4 per cent to US$8.39 billion.

That's a sharp uptick from February's 0.9 per cent reading and marks an overall rise of 11.3 per cent for FDI in the first quarter to a total of US$34.88 billion.

Outbound non-financial investment rose 29.6 per cent to US$25.79 billion in the first quarter.

The data follows a disappointing series of economic readings from March, including a surprising slump in exports and weaker-than-expected investment and industrial output.

FDI inflows into China rose an annual 1.7 per cent in 2014 to US$119.6 billion.