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China’s FDI drops 14% in August
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CHINA’S foreign direct investment plummeted again in August, but the fall narrowed from a month ago, the Ministry of Commerce said today.
Foreign investors channeled US$7.2 billion of funds into China last month, down 14 percent from a year earlier. It compared with the decrease of 16.9 percent in July and the increase of 0.2 percent in June.
In the first eight months, foreign direct investment edged down 1.8 percent to US$78.3 billion with 15,200 new foreign ventures established on the Chinese mainland.
Investment from Japan dropped 43.3 percent during the January-August period, while investors from the United States, the European Union and the ASEAN countries reduced their investment by 16.9 percent, 17. 9 percent and 9.7 percent, respectively.
In comparison, funds from the UK jumped 31.3 percent during the period, and those from South Korea rose 18.9 percent.
As a sign of China’s growing efforts to restructure the economy, foreign investment flowing into China’s services sector gained 8.9 percent to US$43.3 billion in the first eight months, accounting for 55 percent of the total.
In comparison, the manufacturing sector drew US$27.5 billion, down 15.7 percent on an annual basis to account for 35 percent of the basket.
Meanwhile, China’s outbound direct investment expanded 15.3 percent to US$65.1 billion in the first eight months, with the Investment in August more than doubling that of a year earlier.
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