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China snapped its eight-month foreign investment slump in February despite lingering uncertainty in the global economy,coach outlet, according to figures released Tuesday by the Ministry of Commerce. Actualized foreign direct investment (FDI) in February rose 6.32 percent year-on-year to reach $8.21 billion, ministry spokesman Shen Danyang told reporters at a news conference in Beijing. With the latest data serving to fend off skepticism over China's ability to lure foreign investment, the spokesman stated China's attraction of overseas investors has largely been on a stable trajectory against the backdrop of global economic uncertainty, even during previous months of negative growth. Growth was mainly driven by increased investment from the 27 member countries of the European Union. The bloc contributed a combined $1.21 billion over the first two months, a jump of 34 percent compared to a year earlier, according to data from the ministry. Investment flow from other regions,bottega veneta outlet, including the US and Asian economies, shrunk year-on-year in January and February. Japan, whose relations with China have soured amid the Diaoyu Islands spat, continued to post feeble investment figures, down 6.7 percent during the first two months of 2013. "The slight positive growth �?deserves plaudits, which to a certain extent proves the Chinese economy's competitiveness as well as international investors' preference for China's investment climate and growth prospects," Shen said. Although hinting at stable FDI growth this year without "big jumps" or "sharp drops," Shen stopped short of forecasting a recovery in investment inflows for the whole year based on the first two months' figures. Despite encouraging FDI growth in February, the number of newly-founded, foreign-invested enterprises slumped 35.62 percent to 1,chloe bags,032 year-on-year for the month, according to the ministry. In January, the number netted 1,883, an increase of 34.3 percent year-on-year."Downward risks facing the nation's attraction of FDI could continue this year if the global economic recovery remains stagnant," stressed Huo Jianguo, director of the Chinese Academy of International Trade and Economic Cooperation, a think tank affiliated with the Ministry of Commerce.Further efforts by the Chinese government to lift restraints on foreign capital flowing into the services sector and medium- to high-end manufacturing industries will also be vital to boost foreign investment, Huo told the Global Times on Tuesday, pointing out hesitancy among overseas investors over policy constraints was hindering further cash pouring into the country.
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