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People's Daily Online>>China Business

Nov sees slide in FDI, first fall in 28 months (2)

(Global Times)

08:50, December 16, 2011

It is the first time that the service sector has surpassed the manufacturing sector in attracting FDI, said Shen.

Some fear that this is an indicator of emerging recession in the manufacturing sector, but Lu believes it is a result of economic development and government policy.

"China is encouraging its service sector to open up to foreign capital. Plus, laws of economic development decide that the service sector will grow faster than industrial sectors when an economy advances to a certain level," Lu told the Global Times.

During the first 11 months, capital inflow to China from 10 Asian nations and regions including Japan, Thailand and Singapore soared 17.98 percent to $89.58 billion while that from the EU inched up a negligible 0.29 percent.

FDI from the US plunged by 23.05 percent year-on-year to $2.74 billion in the first 11 months, compared with a 14.11 percent rise to $3.56 billion in the same period of 2010.

"One major reason (for the drop) is the weak economy in the US, which saps investment," said Lu. "Besides, the US strategy of reindustrialization, which encourages inbound investment, also drew some manufacturers back to the US."

【1】 【2】


 
 
 
 
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