China's Foreign Direct Investment Rose 8.6% In May

Hong Kong, British Virgin Islands and Japan were top investors.

Reaching $4.9 billion, foreign direct investment into China rose 8.6% in May from the same month a year earlier, the government said June 13.

In the first five months of 2007, foreign direct investment increased by 9.9% from a year earlier to $25.3 billion, commerce ministry spokesman Yao Hongshen said.

Hong Kong, the British Virgin Islands -- where many Chinese companies register for tax purposes -- and Japan were the top three sources of foreign direct investment, he said.

Last year actual foreign investment in the country was $69.5 billion, down 4.1% from 2005. If the financial sector were to be excluded, the figure totaled $63 billion, a rise of 4.5%.

Copyright Agence France-Presse, 2007

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