Foreign direct investment (FDI) to China increased 7.7 percent year on year to US$23.44 billion in the first quarter, vice commerce minister Ma Xiuhong said Wednesday.

A total of 5,459 overseas-funded ventures were established in the past three months, up 19.9 percent from the corresponding period last year, Ma told a press conference.

(Xinhua News Agency April 14, 2010)