Watch the jump in FDI

Foreign investors have apparently shrugged off the higher corporate income tax to embrace China's growth opportunities more eagerly.

In the first two months this year, China drew $18.13 billion in foreign direct investment (FDI), up 75.19 percent year on year.

Such foreign investors' enthusiasm, though welcome, needs to be taken with a pinch of salt. The authorities should examine carefully those foreign-funded investment projects to block inflow of hot money which is made increasingly lucrative by faster appreciation of the renminbi.