ecns [expanded by feedex.net]: China's service sector new magnet for foreign capital: report

ecns [expanded by feedex.net]

ecns

China's service sector new magnet for foreign capital: report
http://www.ecns.cn/business/2016/08-03/221058.shtml
Aug 3rd 2016, 16:43



China's fast-growing service sector has become a new magnet for overseas investors looking for opportunities in the world's biggest emerging market, a report from Industrial Bank Co., Ltd. said.
Nearly 50 billion U.S. dollars in foreign direct investment (FDI) entered the sector in the first half (H1) of 2016, 8 percent more than that of the same period last year and representing 70.4 percent of the country's total FDI.
FDI in the manufacturing sector, however, declined 2.8 percent, only accounting for 28.3 percent of the total.
Given rising salaries and land prices, the manufacturing industry has lost its appeal to foreign investment, and the emerging service sector is overtaking it, a research note from Industrial Bank said.
"There is an evident differentiation," said the report.
Confronted with a slowing economy, China is counting on its service sector to prop up growth and create jobs, rolling out more favorable policies, including easier market access and fewer restrictions on foreign capital.
The service sector expanded 7.5 percent year on year in H1, outpacing a 3.1-percent increase in primary industry and 6.1 percent in secondary industry. It accounted for 54.1 percent of the overall economy, up 1.8 percentage points from a year earlier.
The bank expects more overseas capital to flow into the service sector thanks to an expanding global outsourcing market and further opening of the country's economy.
Despite the slowdown, China remained one of the world's most important investment destinations.
FDI in the Chinese mainland, which excludes investment in the financial sector, rose 5.1 percent year on year to 69.42 billion U.S. dollars in H1, with the growth rate accelerating from the 3.8 percent registered in the first five months.
¡¡¡¡


China service sector continues to expand: Caixin PMIChina's foreign service trade deficit widens in JuneChina's ODI, service trade jump in H1: MOC




Typhoon Nida hits south China's GuangxiTop court clarifies law on fishing in sovereign watersRio organizers apologize for robbery towards athlete and tourist, advice to be alertChina indirectly confirms meeting with TalibanAlibaba denies contributing to Hillary Clinton¡¯s campaign


China's lunar rover Jade Rabbit retires Don't expect much about Chinese women's soccer team in Rio: official Abe retains majority of ministers in Cabinet reshuffle, Inada appointed as defense minister Public encouraged to report suspected debris relating to MH370: JACC Million volunteers in Hangzhou get ready as G20 draws near





You are receiving this email because you subscribed to this feed at https://blogtrottr.com

If you no longer wish to receive these emails, you can unsubscribe here:
https://blogtrottr.com/unsubscribe/qhG/Zc7fXt