Foreign direct investment into China speeds up

Foreign direct investment into China picked up in March, official figures showed Thursday, though outbound investment from the world's second-largest economy slowed sharply.

FDI rose 2.2% year-on-year last month to $12.4 billion, the Chinese commerce ministry said, an acceleration from February's 0.9% gain.

"Investment from major countries and regions in China was generally stable," the ministry said in a statement. For the first three months of 2015, FDI gained 11.3% to $34.88 billion, the figures showed.

Overseas direct investment (ODI) increased 0.4% in March year-on-year to $8.39 billion, while for the first quarter it jumped 29.6% to $25.79 billion. Both ODI and FDI exclude financial sectors.

China drew a total of $119.6 billion of FDI in 2014, while ODI surged to $102.9 billion, passing the $100 billion mark for the first time as Chinese companies seek opportunities abroad with economic growth slowing at home.