Foreign direct investment (FDI) into the Chinese mainland expanded 4 percent year on year to 87.57 billion yuan in January of the year, the Ministry of Commerce (MOC) said Monday.

In U.S. dollar terms, FDI inflow grew 2.2 percent year on year to 12.6 billion dollars in January 2020, the MOC said. A total of 3,485 new foreign-funded enterprises were established across China in January, the ministry said.

FDI into the high-tech sector grew rapidly in January. The used amount surged 27.9 percent year on year to 31.35 billion yuan, accounting for nearly 35 percent of the total FDI, MOC data showed.

The high-tech manufacturing industry drew 8.4 billion yuan, with pharmaceutical industry and medical equipment manufacturing rising by 10.5 percent and 118.9 percent respectively compared to the same period last year.

About 22.95 billion yuan flowed into the high-tech services industry, a sharp increase of 45.5 percent year on year. FDI in services of information, as well as research and development and design climbed 56.6 percent and 39.2 percent, respectively.

MOC data showed that FDI from Singapore, South Korea and Japan surged 40.6 percent, 157.1 percent and 50.2 percent compared with January 2019, while that from countries along the Belt & Road and the Association of Southeast Asian Nations increased 31.3 percent and 44.8 percent respectively.