China's FDI looks ready to set new record

BEIJING - Foreign direct investment (FDI) in China looks like it's heading toward a new record and could exceed $106 billion this year, a senior Ministry of Commerce official said, underscoring global investors' confidence in the world's second-largest economy.

From January to June, the nation's FDI surged by 18.4 percent year-on-year to $60.9 billion, according to the commerce ministry.

"So far this year, the growth momentum of China's FDI has been strong. If it can be maintained, China's FDI will reach a new high point, surpassing last year's level," said Yu Jianhua, assistant to the commerce minister, at a news conference on Wednesday about the 15th China International Fair for Investment and Trade in Beijing.