China

China’s February Foreign Direct Investment Increases 32.2%

Foreign direct investment in China climbed in February, indicating investor confidence in the world’s second-biggest economy.

Investment rose 32.2 percent to $7.8 billion last month from a year earlier, the Ministry of Commerce said in a statement on its website today. That compares with a 23.4 percent gain in January.

Raising wages and reducing income inequality will be among the government’s top tasks in the next five years as the nation switches the focus of growth to consumption from investment, Wen said on March 5.

Foreign investment in the first two months rose 27.1 percent to $17.8 billion, the commerce ministry said today. The number of newly approved foreign-invested companies in the first two months of the year rose 7.5 percent from a year earlier to 3,399, according to the statement.

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