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M. Continuo

China FDI up 2.2 percent in March to $12.4 billion, outbound investment also rises


    BEIJING (Reuters) - China drew $12.4 billion in foreign direct investment (FDI) in March, up 2.2 percent from a year earlier, the Commerce Ministry reported on Thursday, while outbound non-financial investment rose 0.4 percent to $8.39 billion.

    That's a sharp uptick from February's 0.9 percent reading and marks an overall rise of 11.3 percent for FDI in the first quarter to a total of $34.88 billion.

    Outbound non-financial investment rose 29.6 percent to $25.79 billion in the first quarter.

    The data follows a disappointing series of economic readings from March, including a surprising slump in exports and weaker-than-expected investment and industrial output.

    FDI inflows into China rose an annual 1.7 percent in 2014 to $119.6 billion.

    (Reporting by Judy Hua and Pete Sweeney)