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China's FDI volume basically stable

Foreign direct investment into the Chinese mainland dropped 1.2 percent year-on-year between January and July to 485.42 billion yuan ($72.66 billion), official data released by the Ministry of Commerce show. A total of 17,703 newly funded foreign companies were established in the first seven months, up 12 percent year-on-year, according to the ministry. "The FDI volume was basically stable from January to July, and the structure continued to optimize," said Lin Guijun, a professor at the University of International Business and Economics. "FDI to China is likely to remain stable in the second half of this year, especially in areas such as consumer goods, and software development, leasing and information services, as foreign companies are realizing that China's growing middle class will have higher levels of disposable income and that the country is shifting to a productivity-driven growth model," said Lin.