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China's FDI weakens for 2nd month, dropping 8.7% in July
By Wang Yanlin |
August 16, 2012, Thursday
|
Online Edition
Online Edition
Foreign direct investment in China fell 8.7 percent from a year earlier in July, extending the decline to a second month amid the country's slowing economic growth.
Last month's inbound foreign direct investment was US$7.58 billion, compared with US$12 billion a month earlier, the Ministry of Commerce said this morning.
The decline followed a drop of 6.9 percent in June and a short-lived increase of 0.05 percent in May.
In the first seven months, foreign investors launched 13,677 new projects in China with a total investment of US$66.7 billion, which contracted 3.6 percent from a year earlier.
Foreign investments in China's manufacturing sector fell 6.4 percent year on year to US$30.1 billion during the January-July period, or 45.2 percent of the total weight.
Those flowing into China's service sector shrank 3.2 percent to US$30.7 billion, led by a 9.3-percent cut in foreign investment in China's property market, the ministry said.
In the first seven months, investors from the United States poured US$1.96 billion into their Chinese business, up 1 percent from a year earlier, signaling a turning point after continued decline in the first half.
China's economy is still in a downward trend. Its gross domestic product expanded 7.6 percent on an annual basis in the second quarter, falling below 8 percent for the first time in three years.
Despite of less overseas investment, China remains one of the most attractive destinations for foreign capital due to its relatively stable growth and an improving environment for investors, a KPMG survey showed recently.
Multinational companies are still keen to invest in China, especially in the manufacturing and retailing sectors, as the country's 7 to 8 percent annual economic growth will create a large and growing source of revenue for them, the survey participants said.
Last month's inbound foreign direct investment was US$7.58 billion, compared with US$12 billion a month earlier, the Ministry of Commerce said this morning.
The decline followed a drop of 6.9 percent in June and a short-lived increase of 0.05 percent in May.
In the first seven months, foreign investors launched 13,677 new projects in China with a total investment of US$66.7 billion, which contracted 3.6 percent from a year earlier.
Foreign investments in China's manufacturing sector fell 6.4 percent year on year to US$30.1 billion during the January-July period, or 45.2 percent of the total weight.
Those flowing into China's service sector shrank 3.2 percent to US$30.7 billion, led by a 9.3-percent cut in foreign investment in China's property market, the ministry said.
In the first seven months, investors from the United States poured US$1.96 billion into their Chinese business, up 1 percent from a year earlier, signaling a turning point after continued decline in the first half.
China's economy is still in a downward trend. Its gross domestic product expanded 7.6 percent on an annual basis in the second quarter, falling below 8 percent for the first time in three years.
Despite of less overseas investment, China remains one of the most attractive destinations for foreign capital due to its relatively stable growth and an improving environment for investors, a KPMG survey showed recently.
Multinational companies are still keen to invest in China, especially in the manufacturing and retailing sectors, as the country's 7 to 8 percent annual economic growth will create a large and growing source of revenue for them, the survey participants said.
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