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FDI falls for 3rd month on slumping EU investment
By Wang Yanlin |
February 16, 2012, Thursday
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Online Edition
Online Edition
FOREIGN direct investment in China fell for the third straight month in January as European investment continued to plunge amid the deepening debt crisis.
In comparison, capital from the United States picked up as part of the investments in the planned Shanghai Disneyland Theme Park rolled in. It coincided with Chinese Vice President Xi Jinping's visit to the US, which is aimed at improving bilateral political and business ties between the nations.
Foreign investors channeled altogether US$9.99 billion into China last month - 0.3 percent less than a year earlier, the Ministry of Commerce said today.
The pace in January improved from the reduction of 12.7 percent in December and the cut of 9.7 percent in November.
Less investment from Europe was still accountable. The 27-member European Union placed US$452 million in China last month, down 42.5 percent from a year earlier.
But encouragingly, investment from the US jumped 29 percent year on year to US$342 billion, a sharp change from last year's drop of 26 percent.
"China will have to confront many difficulties this year in attracting foreign investment," said Shen Danyang, a spokesman at the ministry. "The global economic uncertainties make investors more cautious about investment, while China speeds up its economic restructuring process that may lift requirement for foreign investment."
Shen added that China remained one of the most attractive destinations for foreign investment because of its stable economic and political environment.
China's gross domestic product expanded 9.2 percent from a year earlier last year, cementing its position as the world's second-largest economy.
In comparison, capital from the United States picked up as part of the investments in the planned Shanghai Disneyland Theme Park rolled in. It coincided with Chinese Vice President Xi Jinping's visit to the US, which is aimed at improving bilateral political and business ties between the nations.
Foreign investors channeled altogether US$9.99 billion into China last month - 0.3 percent less than a year earlier, the Ministry of Commerce said today.
The pace in January improved from the reduction of 12.7 percent in December and the cut of 9.7 percent in November.
Less investment from Europe was still accountable. The 27-member European Union placed US$452 million in China last month, down 42.5 percent from a year earlier.
But encouragingly, investment from the US jumped 29 percent year on year to US$342 billion, a sharp change from last year's drop of 26 percent.
"China will have to confront many difficulties this year in attracting foreign investment," said Shen Danyang, a spokesman at the ministry. "The global economic uncertainties make investors more cautious about investment, while China speeds up its economic restructuring process that may lift requirement for foreign investment."
Shen added that China remained one of the most attractive destinations for foreign investment because of its stable economic and political environment.
China's gross domestic product expanded 9.2 percent from a year earlier last year, cementing its position as the world's second-largest economy.
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