China's FDI inflows strong

China's foreign direct investment inflows in the first five months of 2011 rose 23.4 percent from a year earlier to $48 billion, as global firms make inroads into the country's booming services sector. In May alone, China attracted $9.2 billion in FDI, up 13.4 percent from a year earlier, the Commerce Ministry said on Wednesday.
China's fledgling services sector attracted faster investment inflows in the first five months than the manufacturing industry, the ministry said in a statement. The foreign direct investment in the services sector rose 27.7 percent in the first five months, outstripping a 20.6 percent rise in the manufacturing industry. The shift in FDI towards the services sector are in line with broad structural changes in the world's second-biggest economy.