Related News
FDI slips as European investors reduce spending
By Wang Yanlin |
May 15, 2012, Tuesday
|
Online Edition
Online Edition
FOREIGN direct investment in China dropped for a sixth straight month in April as European investors continued to slash spending.
In comparison, capital from Asia and the United States picked up against the broad trend and helped to cushion the decrease a bit.
Inbound foreign investment fell 0.74 percent from a year earlier to US$8.4 billion last month, China's Ministry of Commerce said this morning. The decline moderated from the 6.1 percent decline in March, but was much less than the 9.7 percent increase last year.
"Sluggish economic growth around the world and much fiercer global competition for new investment continue to weigh on China's ability in absorbing foreign capital," said Shen Danyang, a spokesman at the commerce ministry. "Also, China is losing its comparative advantage as production costs rise continuously."
But China still maintains its "prudent optimism" due to the improving environment for foreign investment in the country, Shen said.
According to a recent report issued by Japan Bank for International Cooperation, China and India remain the top two investment destinations for Japanese manufacturers that are actively seeking overseas expansion. Singapore's United Overseas Bank also listed China as the best choice for investment in its latest report.
In the first four months, foreign investors set up 7,016 new enterprises in China with a total investment of US$37.8 billion. The value dropped by 2.4 percent compared with a year earlier.
Capital from the 27-member European Union decreased 27.9 percent to US$1.9 billion in the January-April period - the biggest drag on China's falling foreign investment.
In comparison, Japanese investors increased investment in China by 16 percent to US$2.7 billion, and capital from the United States rose 1.9 percent to US$1.05 billion.
In comparison, capital from Asia and the United States picked up against the broad trend and helped to cushion the decrease a bit.
Inbound foreign investment fell 0.74 percent from a year earlier to US$8.4 billion last month, China's Ministry of Commerce said this morning. The decline moderated from the 6.1 percent decline in March, but was much less than the 9.7 percent increase last year.
"Sluggish economic growth around the world and much fiercer global competition for new investment continue to weigh on China's ability in absorbing foreign capital," said Shen Danyang, a spokesman at the commerce ministry. "Also, China is losing its comparative advantage as production costs rise continuously."
But China still maintains its "prudent optimism" due to the improving environment for foreign investment in the country, Shen said.
According to a recent report issued by Japan Bank for International Cooperation, China and India remain the top two investment destinations for Japanese manufacturers that are actively seeking overseas expansion. Singapore's United Overseas Bank also listed China as the best choice for investment in its latest report.
In the first four months, foreign investors set up 7,016 new enterprises in China with a total investment of US$37.8 billion. The value dropped by 2.4 percent compared with a year earlier.
Capital from the 27-member European Union decreased 27.9 percent to US$1.9 billion in the January-April period - the biggest drag on China's falling foreign investment.
In comparison, Japanese investors increased investment in China by 16 percent to US$2.7 billion, and capital from the United States rose 1.9 percent to US$1.05 billion.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
