China’s Jan. Foreign Investment Doubles

From AP via New York Post :

China attracted $11.2 billion in foreign investment in January, up 109.8 percent from the same month last year, the government said Monday.

The Commerce Ministry , which reported the figure in a one-sentence statement, gave no explanation for the sharp rise. China’s economy is growing strongly at a time when investors are worried about a slowdown in the United States, and companies are racing to cash in. The number of new foreign-financed companies rose by just 13.4 percent from the same month last year, suggesting investors were shifting to bigger, more capital-intensive projects.