FDI to maintain stable growth

Foreign direct investment in China will grow steadily in 2013, despite ongoing global economic uncertainties, the Ministry of Commerce said in a statement on its website on Wednesday.

The statement came following comments made by Vice-Minister Wang Chao during the China Investment Policy Seminar in Hong Kong on Tuesday, in which he said the mainland still retained its competitive advantage for FDI.

Wang said that the FDI momentum "will be extended", while the quality and efficiency of growth will keep improving.

He said the mainland has a huge domestic market and comprehensive industrial facilities, and that production costs remain competitive. He added human resources also remain abundant, and that the labor force is improving in quality.

Wang said the investment environment is improving, and the mainland remains a top investment destination for transnational companies.

FDI rose 5.65 percent in March from a year earlier to $12.42 billion, the second consecutive monthly growth after February reversed an eight-month slump with a rise of 6.3 percent, according to the ministry.

FDI in the first quarter gained 1.4 percent year-on-year to $29.9 billion, the statement said.

Wang also urged Hong Kong enterprises to deepen investment cooperation with their mainland peers in modern agriculture, modern services, high technology, advanced manufacturing as well as strategic emerging industries including new energy and environmental protection.

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