Foreign direct investment in China jumps 16.1%

 Foreign direct investment (FDI) into China jumped 16.1 percent from a year earlier to USD to reach USD 10.8 billion in January, marking the 12th consecutive month of expansion, the Chinese Commerce Ministry said Tuesday.The rate of growth was much higher from December's 3.3 percent year-on-year increase, according to figures released by the ministry.FDI from 10 major Asian countries and regions, including Hong Kong, Taiwan, Japan, South Korea, Thailand and Singapore, surged rose 22.2 percent from a year earlier to USD 9.55 billion. The European Union shrank 41.3 percent to USD 482 million, while that from the US rose 34.9 percent to USD 369 million."The double-digit growth provided the most solid and convincing response to doubts such as whether China still has a favorable investment environment and whether foreign investors are confident in China's economic prospects," ministry spokesman Shen Danyang told a press conference in Beijing, according to state-run Xinhua News Agency. Shen cited three factors driving the encouraging growth in foreign investment, such as increasing investors' confidence thanks to the reform efforts of China's new leadership, including the transformation of the government's role in market activities and economic restructuring. "We expect FDI to maintain a good growth momentum this year," Shen added.