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Beijing (AFP) May 17, 2011 The value of foreign direct investment in China rose 15.2 percent in April year-on-year to $8.46 billion but fell from the previous month, the commerce ministry said Tuesday. April FDI was down from $12.52 billion in March, when it rose 32.9 percent on-year, the ministry said in a statement. Ministry spokesman Yao Jian did not explain why FDI had dropped in April from the previous month. The world's second-largest economy attracted $38.8 billion in FDI during the January-April period, up 26.03 percent on-year, it said. Analysts say robust growth in China and expectations for a stronger currency have attracted a growing number of overseas investors hoping for a better return on their money as the United States and Europe remain in the doldrums. China's economy grew 9.7 percent year-on-year in the first quarter, beating a Dow Jones Newswires estimate of 9.5 percent. It was slightly lower than the 9.8 percent growth rate posted in the final quarter of 2010. The ministry also said Chinese companies' overseas investment in non-financial sectors reached $13.4 billion in the first four months of the year, up 17.5 percent from a year earlier.
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