China's FDI down 6.8% in September
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E-mail China.org.cn, October 19, 2012
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Piles of Containers at a port in China. [File photo] |
Foreign direct investment (FDI) into China dropped 6.8 percent in September to US$8.43 billion from a year ago, the Ministry of Commerce said Friday at a routine press conference.
FDI inflows fell 3.8 percent in the first nine months year-on-year, extending the longest run of declines due to the fallout of the global financial crisis.
The FDI data came after the release of other economic indicators for September, including the inflation rate, bank lending, exports and industrial output, which showed some stabilizing signs.
The National Bureau of Statistics annouced Thursday that China's economic pace slowed to 7.4 percent in the third quarter from the previous year, marking the seventh straight quarter of slowing growth.
The ministry data showed investment inflows from the European Union fell 6.3 percent from a year ago in the first nine months to US$4.83 billion, while investment by U.S. firms slipped 0.63 percent to US$2.37 billion.
What is noteworthy is that investment from Japan surged 17 percent from a year earlier to US$5.62 billion.
The ministry spokesman Shen Danyang blamed the slump on the slowdown in global economic growth, the prolonged European debt crisis and rising costs and weak demand at home.
China has set a target of 10 percent growth in both exports and imports for 2012.
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