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China FDI up 7.3% YOY in 1st 7 months of 2019

Foreign direct investment in China grew 7.3% annually to 533.14 billion Chinese yuan in the first seven months of 2019, data from the Ministry of Commerce showed.

In U.S. dollar terms, FDI climbed 3.6% year over year to $78.8 billion during the period.

FDI from Germany, South Korea and Japan rose by 72.4%, 69.7% and 12.6%, respectively. Investment from the EU rose 18.3% on an annual basis, while that from countries participating in China's Belt and Road Initiative grew 5%.

For the month of July alone, FDI rose 8.7% to 54.82 billion yuan.

As of Aug. 12, US$1 was equivalent to 7.06 Chinese yuan.