China's FDI Inflows down 6.7 Pct in May
    2014-06-17 21:13:45     CRIENGLISH.com      Web Editor: Wang
Foreign investment in China fell in May to its lowest level in 16 months, partly due to slowing growth.

 

Foreign investment in China fell in May to its lowest level in 16 months, partly due to slowing growth.

The Ministry of Commerce says foreign direct investment, or FDI into the Chinese mainland fell nearly 7 percent year on year to less than 9 billion U.S. dollars last month.

Cumulatively, China drew 49 billion dollars of FDI in the first five months, up less than 3 percent from a year earlier, also the worst showing in a year.

In the five month period, the top five investors in the Chinese mainland were Hong Kong, Taiwan, Singapore, South Korea, and Japan.

Investment from South Korea and the United Kingdom saw the biggest increases, up around 90 percent and 60 percent year on year, respectively.

FDI from Japan, however, slumped over 40 percent from a year ago.

Chinese Commerce Ministry spokesman Shen Danyang.

"But from a political perspective, the current continued cooling of political relations between the two countries will mean a worsening environment for economic cooperation between the two countries. It could also mean a decline in trade relations and could seriously affect the desire for business cooperation."

Shen also hit back at the US, asking it to stop its anti-dumping investigations into imported carbon and alloy steel wire from China.

FDI from the United States in China dropped nine percent.

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