Foreign direct investment, or FDI, in China rose to $8.38 billion in August, up by 0.62 percent from the corresponding period in 2012. 

The rate of growth in FDI dropped, compared to July, when China attracted $9.40 billion in FDI, which was 24.13 percent higher on a yearly basis, data from China’s ministry of commerce showed.

“While the FDI figure is rather soft this, in my opinion, is not an indication that the economic recovery is weaker than expected,” Gerry Alfonso, a trader at Shenyin & Wanguo Securities Co. in Shanghai, told Bloomberg, adding that the key factor driving Chinese economic growth is not foreign investment but domestic capital.

FDI in the period between January and August increased 6.37 percent on a yearly basis to reach $79.8 billion, compared to a 7.1 percent increase in the same period in 2012.

Non-financial FDI until August increased 18.5 percent annually, to reach $56.5 billion.