Foreign investment in China financial institutions doubles

Foreign direct investment in financial institutions in China more than doubled in the second quarter year on year, official data showed.

Financial institutions in China received 27.1 billion yuan (4.4 billion U.S. dollars) in investment in the second quarter while investment outflow stayed at 1.8 billion yuan (294 million U.S. dollars),a net inflow of 25.3 billion yuan, up from 8.56 billion in the first quarter and 12.2 billion last year, according to data released by the State Administration of Foreign Exchange on Wednesday.

In the same period, outbound net investment by financial institutions in China also climbed to 14.1 billion yuan, up from 10.6 billion yuan a year ago.

The calculation includes investment in companies that result in share holdings of 10 percent or above.