(MENAFN) Foreign direct investment (FDI) into China expects to boom and stay steady, as its currency was devalued in order to enhance economic growth, and despite the declining FDI into manufacturing sector, it has raised in service sector.
China's FDI surged by 5.2 percent in July to USD7.89 billion from the same period in 2014, a 0.7 percent growth from June, as reports showed, plus a steady growth in investment from major countries.
FDI was also supported by cheaper labor bills compared to most developed nations, despite labor in China becoming more costly, and in order to grow a sustainable economy through multiple FDI activities, it needs more foreign technologies.
'Even though China has lost its global edge in low, or even medium-end products, it still has advantage in economy of scale in manufacturing and in the size of its huge domestic market,' said a senior researcher.
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