HONG KONG (MarketWatch) -- Foreign direct investment into China rose for a third straight month in October, adding to a recent batch of upbeat data showing the economy is picking up steam, according to a media report Monday.
Foreign direct investment rose 5.7% to $7.1 billion in October, after rising 18.9% on year in September, the state-run Xinhua news agency reported, citing data from the Ministry of Commerce.
In the first ten months of the year foreign domestic investment totaled $70.87 billion, down 12.6% from a year earlier.
China's Shanghai composite index ended 2.7% higher at 3,275.05.
Data released last week showed China's industrial production and retail sales accelerated at faster than expected pace, although consumer and producer prices were generally softer than expected.
