Japan set to boost China investment (3)

08:36, June 16, 2011      

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From January to May, foreign investment from 10 Asian nations and regions, including Hong Kong, Taiwan and Japan, rose 29.28 percent to $41.24 billion. Investment from the European Union rose 9.02 percent to $2.93 billion.

But investment from the United States dropped 24.12 percent year-on-year to $1.29 billion.

"The slow and unstable economic recovery in the US led to the decrease," said Yao.

"We expect more US investment in China's service sector. But we need to study how to make it happen."

Hao Hongmei, a researcher at the Chinese Academy of International Trade and Economic Cooperation, said "there will not be big fluctuations in investment from the US and EU for the time being. But as China further opens its service market, FDI in the sector could see rapid growth."

From January to May, FDI in the service sector grew 27.68 percent, compared to 20.63 percent for the manufacturing sector.

Lan Lan contributed to this story.
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