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50% Slump In FDI This Year: UN Official

GLOBAL foreign direct investment was expected to slump by about 50 percent this year amid economic downturns, an official with the United Nations Conference on Trade and Development said over the weekend.

James Xiaoning Zhan, head of the organization's investment and enterprise division, was speaking at the Global Think Tank Summit in Beijing.

FDI flowing into developed countries was expected to slump by 60 percent, with FDI flowing into developing countries down by 25 percent, said Zhan, adding that cross-border mergers would dwindle by 60 percent.

Global FDI dropped by 54 percent in the first quarter this year and cross-border mergers were down by 77 percent. Zhan forecast global FDI would rebound next year.


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