China says Oct. foreign investment up 5.7 percent

Investment rose 5.7 percent in October from a year earlier to US$7.1 billion, Commerce Ministry spokesman Yao Jian said at a news conference. The figure does not include stocks and other financial assets.

The government reported a 19 percent jump in foreign investment in September from a year earlier and a 7 percent rise in August. However, total investment in the first nine months of the year fell 14 percent from a year earlier to US$63.8 billion.

Some foreign companies cut investments in China as the global slowdown squeezed credit and spending, but economic growth is rebounding and consumer purchases are rising.

Retail sales in October surged 16.2 percent from the same period of 2008, while factory output was up 16.1 percent.

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