Foreign direct investment in China rose 19.83 percent in July year on year, data showed Tuesday, with analysts saying robust growth and expectations of a stronger currency attracted overseas investors.
For the first seven months of the year, China took a total of $69.19 billion in foreign direct investment, up 18.57 percent from the same period a year earlier, the Ministry of Commerce said in a statement.
Foreign companies invested $8.30 billion in the world's second-largest economy last month, the statement said.
In June, the figure reached $12.86 billion, representing a rise of just 2.83 percent from a year earlier, due mainly to a slowing of investment from the United States and the European Union, the ministry said earlier.
The ministry did not explain reasons for the strong performance in July, nor did it provide a breakdown of sources of the investment.
Analysts say strong growth in China and expectations of a stronger yuan have attracted a growing number of foreign investors hoping for a better return on their money as the United States and Europe remain in the doldrums.
But growing concerns that the flood of credit is helping to fuel inflation have triggered a round of monetary tightening as Beijing tries to rein in soaring consumer costs.
Inflation hit a three year high of 6.5 percent last month despite the government hiking interest rates five times since October and curbing the amount of money banks can lend.
