China’s foreign direct investment up 13.2% in Oct.

Foreign enterprises invested US$6.8 billion in China last month, the commerce ministry said in a statement on its website.

The figure was up from US$5.3 billion in September. In the first 10 months of 2007, foreign direct investment rose 11.2 percent from the same period in 2006 to US$54 billion, the commerce ministry said.

Last year actual foreign investment in China was US$69.5 billion, down 4.1 percent from 2005.

Foreign direct investment, along with booming exports, are among the top factors resulting in China’s massive build-up in foreign exchange reserves.

The foreign exchange reserves, the largest in the world for more than a year, hit US$1.43 trillion by the end of September, according to the most recent data.

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