Foreign direct investment (FDI) into China fell for a sixth straight month in April amid global economic downturn causing concern in the world’s second largest economy.
In year-on-year terms, the FDI edged down 0.74 per cent to $8.4 billion in April, following a 6.1 per cent drop in March, 0.9 per cent decline in February and 0.3 per cent fall in January, the Chinese Ministry of Commerce (MoC) said today.
The country received $37.88 billion of FDI in the first four months, down 2.38 per cent from a year earlier, MoC spokesman Mr Shen Danyang told at a press conference here.
Investment from the debt-ridden European Union plunged 27.9 per cent in the January-April period from a year ago, he said.
However, that from the US and Japan climbed 1.9 per cent and 16 per cent, respectively, Mr Shen said.
China has approved the establishment of 7,016 foreign-invested companies in the first four months, down 13.94 per cent from a year ago.
However, as investment into China drops, the country’s outbound investment has surged, Mr Shen added.
The country’s non-financial overseas direct investment totalled $23.16 billion in the first four months, up 72.8 per cent from a year earlier.