China has rebounded from a slow start to 2013, by recording a 57% quarter-on-quarter increase in FDI projects in the second quarter of the year. The country recorded 198 projects between April and June, compared to 126 projects in the first three months of the year, according to data from greenfield investment monitor fDi Markets.
The uptick in second quarter performance is a familiar trend in China. In 2008, the country witnessed a 35% increase between the first and second quarters, and in 2003, there was a 42% rise over the same period. Since fDi Markets started collecting data in 2003, there has only been one year, 2007, when a second quarter uptick has not occurred.
Switzerland-based food and beverage giant Nestlé, German automaker Volkswagen and Japanese steel manufacturer Nippon Steel all invested heavily in China in the second quarter of 2013. Such investments caused job creation figures to experience a quarter-on-quarter increase from 29,319 to 38,969. Capital expenditure also increased from $7.17bn to $12.97bn.
In the hotels and tourism sector, US-based Starwood Hotels & Resorts announced that it would be investing in a number of new locations across China by 2017, including the cities of Shanghai, Beijing, Suzhou and Xiamen.