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Asian investors boost October FDI growth
By Wang Yanlin |
November 16, 2011, Wednesday
|
Online Edition
Online Edition
FOREIGN direct investment in China grew at a faster pace in October on rising capital injections from Asian investors 鈥 while investment from the United States dropped notably.
China's Foreign direct investment had risen 8.75 percent from a year earlier to US$8.33 billion last month, quicker than 7.88 percent in September, the Ministry of Commerce said today.
The pace was 11.1 percent in August and 19.8 percent in July.
"Generally speaking, foreign investors are increasingly cautious of making new investments amid global economic uncertainties," said Xue Jun, an analyst at CITIC Securities Co. "The unexpected rebound in October is a result of more investment coming from Asian countries, which perform relatively well under present conditions."
In the first 10 months, investment from 10 major Asian markets, including Japan, Philippines, Thailand and Malaysia, jumped 20.6 percent from a year earlier to US$81.8 billion. Among them, Japan's investment even surged 65.5 percent, the ministry's data showed.
On the contrary, investment from the US fell 18.13 percent year on year to US$2.5 billion between January and October, and capital from the European Union only edged up 1.05 percent.
"Declining US investment is closely related to the current economic conditions in the US," said Shen Danyang, a spokesman at the ministry. "The US is promoting its re-industrialization strategy, and it creates some difficulty for China to attract American investment in some high value-added manufacturing sectors."
But Shen denied a trend of US disinvestment was forming and said China remained one of the most attractive destinations globally for foreign investment.
China's Foreign direct investment had risen 8.75 percent from a year earlier to US$8.33 billion last month, quicker than 7.88 percent in September, the Ministry of Commerce said today.
The pace was 11.1 percent in August and 19.8 percent in July.
"Generally speaking, foreign investors are increasingly cautious of making new investments amid global economic uncertainties," said Xue Jun, an analyst at CITIC Securities Co. "The unexpected rebound in October is a result of more investment coming from Asian countries, which perform relatively well under present conditions."
In the first 10 months, investment from 10 major Asian markets, including Japan, Philippines, Thailand and Malaysia, jumped 20.6 percent from a year earlier to US$81.8 billion. Among them, Japan's investment even surged 65.5 percent, the ministry's data showed.
On the contrary, investment from the US fell 18.13 percent year on year to US$2.5 billion between January and October, and capital from the European Union only edged up 1.05 percent.
"Declining US investment is closely related to the current economic conditions in the US," said Shen Danyang, a spokesman at the ministry. "The US is promoting its re-industrialization strategy, and it creates some difficulty for China to attract American investment in some high value-added manufacturing sectors."
But Shen denied a trend of US disinvestment was forming and said China remained one of the most attractive destinations globally for foreign investment.
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