BEIJING: The value of foreign direct investment in China grew in March from the previous month, official data showed Tuesday, highlighting growing confidence in the world's second-largest economy.
China attracted $12.52 billion in foreign direct investment last month, up 32.9 percent from a year earlier, the commerce ministry said in a statement.
That compares with $7.8 billion in February and $10.03 billion in January.
For the first three months of 2011, foreign direct investment rose 29.4 percent year-on-year to $30.3 billion, the ministry said.
Analysts say robust growth in China and expectations for a stronger currency have attracted a growing number of overseas investors to China, hoping for a better return on their money as the United States and Europe remain in the doldrums.
China's economy grew 9.7 percent year-on-year in the first quarter, beating a Dow Jones Newswires estimate of 9.5 percent. It was slightly lower than the 9.8 percent growth rate posted in the final quarter of 2010.
The ministry also said Chinese companies' overseas investment in non-financial sectors reached $8.51 billion in the first three months, up 13.2 percent from a year earlier.
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