FDI in China expected to rise

BEIJING -- China is enjoying an overall advantage in attracting foreign direct investment, with its foreign investment expected to steadily increase this year, an official said Tuesday.

"Although China is facing a complex environment, it is still enjoying a relatively strong overall advantage in the mid and long-term," Vice-Minister of Commerce Wang Chao said at a news conference.

Data from the Ministry of Commerce showed that FDI flowing into China in the first five months reached $47.11 billion, down 1.91 percent year-on-year.

In May, FDI rose 0.05 percent from a year earlier to $9.23 billion, reversing a declining trend from the previous six months.

Wang described the slight FDI increase in May as a "positive signal".

"The Chinese government has made great efforts to improve its investment environment and most foreign companies in China are confident about the Chinese market," Wang said.

Wang said China would continue to open itself to foreign investors, further improve laws and regulations on foreign investment and simplify approval procedures.