China's FDI up 10.5% in Jan-May

BEIJING -- Foreign direct investment (FDI) to the Chinese mainland jumped 10.5 percent year on year in the first five months of 2015, settling at 330.95 billion yuan ($53.83 billion), the Ministry of Commerce said Thursday.

The pace slowed from the 11.1-percent increase registered in the January-April period but far exceeded the annual growth rate posted for 2014 of 1.7 percent.

China approved 9,582 new foreign-funded companies in the first five months, up 9.6 percent year on year.

Service industry FDI totaled $33.94 billion in the first five months, up 23.5 percent year on year. This accounted for 63 percent of the all FDI during the period.

Some high-end manufacturing businesses saw fast investment growth. Investment climbed 4.8 percent year on year in communications equipment, computer and other electric-facility manufacturing in the first five months. Investment rose 4.4 percent year on year in traffic-equipment manufacturing in the first five months.