CHINA ATTRACTS FDI IN 2015 DESPITE COOLING ECONOMY

FDI jumps despite China slowing

Friday, January 15, 2016

China attracted US$126.3 billion (HK$985.14 billion), in non- financial foreign direct investment last year, up 6.4 percent from 2014, despite its cooling economy.
With traditional heavy industries facing persistent weakness, foreign investors favored the more robust services sector and higher-value high-tech manufacturing last year, data from the commerce ministry showed yesterday.The services sector has utilized US$77.2 billion of foreign investment, up 17.3 percent from 2014.United States ride-hailing firm Uber (pictured) has committed to invest 6.3 billion yuan (HK$7.43 billion) in China as it aims to break into its huge tourism industry with businesses ranging from transportation services to automotive financing. High-tech manufacturing accounted for US$9.41 billion of foreign direct investment, up 9.5 percent from 2014 and accounting for 23.8 percent of investment in China's manufacturing sector.Free trade zones in Guangdong, Tianjin and Fujian attracted investment of 445.81 billion yuan from 6,040 overseas companies between January