China’s foreign direct investment increased for a tenth month in May – further evidence that the country is weathering the debt crisis in Europe.
According to a World Bank forecast, the Chinese economy will grow by 9.5 percent in 2010, three times the growth rate of the United States.
"China will remain an attractive investment destination as the government spurs consumer spending," said Xing Ziqiang, an economist at China International Capital Corp.
Government figures showed that retail sales increased by more than 18 percent for the third straight month in May.
However, export growth may moderate starting in July because of higher year-ago comparisons and the potential effects on sales to the European region due to the sovereign-debt crisis, said a spokesperson for the Ministry of Commerce.