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June FDI inflow drops 7% on slowing economy
By Wang Yanlin |
July 17, 2012, Tuesday
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Online Edition
Online Edition
FOREIGN direct investment in China fell again last month, ending a short-lived rebound in May on uncertainties in the global market and a slowing domestic economy.
Inbound FDI lost 6.9 percent from a year earlier to US$12 billion last month, the Ministry of Commerce said this morning. The latest decline followed the surprise 0.05 percent increase in May.
"Stagnant economic growth around the world, especially the lack of a proper solution to the eurozone debt crisis, continues to deter investors from allocating their money," said Shen Danyang, a ministry spokesman.
Shen added that "the weakening conditions in the domestic market also weigh on China's strength in absorbing foreign capital, when production costs are rising rapidly and the supply of land is shrinking."
In the first half, foreign investors set up altogether 11,705 new enterprises in China with an investment of US$59.1 billion, which was down 3 percent year on year. Among it, foreign investment in the property sector slumped 12.4 percent, the sharpest in all categories, the data showed.
Capital from the 27-member European Union increased 1.6 percent year on year to US$3.52 billion in the first six months, bolstered by more funds attracted from Switzerland, Netherlands and Germany, the ministry data showed.
Japanese investors raised their investments by 16.9 percent to US$4.1 billion during the January-June period but capital from the United States fell by 3.2 percent to US$1.63 billion. China's outbound non-financial foreign direct investment climbed 48.2 percent to US$35.4 billion in the first six months, up dramatically from last year's growth of 1.8 percent.
Inbound FDI lost 6.9 percent from a year earlier to US$12 billion last month, the Ministry of Commerce said this morning. The latest decline followed the surprise 0.05 percent increase in May.
"Stagnant economic growth around the world, especially the lack of a proper solution to the eurozone debt crisis, continues to deter investors from allocating their money," said Shen Danyang, a ministry spokesman.
Shen added that "the weakening conditions in the domestic market also weigh on China's strength in absorbing foreign capital, when production costs are rising rapidly and the supply of land is shrinking."
In the first half, foreign investors set up altogether 11,705 new enterprises in China with an investment of US$59.1 billion, which was down 3 percent year on year. Among it, foreign investment in the property sector slumped 12.4 percent, the sharpest in all categories, the data showed.
Capital from the 27-member European Union increased 1.6 percent year on year to US$3.52 billion in the first six months, bolstered by more funds attracted from Switzerland, Netherlands and Germany, the ministry data showed.
Japanese investors raised their investments by 16.9 percent to US$4.1 billion during the January-June period but capital from the United States fell by 3.2 percent to US$1.63 billion. China's outbound non-financial foreign direct investment climbed 48.2 percent to US$35.4 billion in the first six months, up dramatically from last year's growth of 1.8 percent.
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