Beijing: Foreign direct investment (FDI) in China rose 0.7 percent year on year in June to $14.58 billion, the commerce ministry said on Tuesday.

The growth slowed sharply from a 7.8-percent rise in May. In the first half of the year, FDI, which excludes investment in the financial sector, stood at $68.41 billion, up 8.3 percent from the same period last year, the ministry said.

Investment in the country’s burgeoning service industry continued robustly, accounting for 63.5 percent of total investment flows during the January-June period.

The FDI in the manufacturing sector dropped 8.4 percent to $20.86 billion, accounting for 30.5 percent of the total.

Ministry spokesman Shen Danyang attributed the fast investment growth in services to China’s massive market opportunities, government support to the industry, as well as increased opening-up in the sector.

Investments from Macao and France saw fast growth, up 56.2 percent and 46.9 percent respectively. In contrast, investment from Japan plunged 16.3 percent, and that from the US fell 37.6 percent.

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