China Jan-Apr non-financial outbound FDI up 36.1% y/y

[BEIJING/SHANGHAI] China's outbound non-financial direct investment rose 36.1 per cent to US$34.97 billion in the first four months of the year from a year earlier, the Commerce Ministry reported on Friday.

On Wednesday the ministry released figures that showed China's foreign direct investment (FDI) climbed at an annual rate of 11.1 per cent in the first four months of the year to US$44.5 billion.

China warned on Wednesday that it faces stiffer competition from other countries when wooing foreign investors to the mainland due to rising Chinese wages.

China's FDI in March grew only 2.2 per cent from a year earlier. "The current trade situation is difficult, with the goal of achieving stable economic growth under great pressure," Shen Danyang, spokesman at the ministry, told a news confernce.

China's money supply grew at its slowest pace on record in April as investment growth sank to its lowest in nearly 15 years, data showed on Wednesday, pointing to a further loss in growth momentum despite a concentrated burst of policy easing.

REUTERS