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People's Daily Online>>China Business

Nov sees slide in FDI, first fall in 28 months

(Global Times)

08:49, December 16, 2011

Foreign direct investment (FDI) in China in November fell by 9.76 percent from a year earlier to $8.76 billion, the first negative growth in the past 28 months, but analysts said on Thursday it does not indicate a long-term trend.

In November, China approved the establishment of 2,718 foreign-invested companies, down 12.91 percent year-on-year, the Ministry of Commerce (MOFCOM) said on Thursday.

The November figure brought the total FDI in the first 11 months to $103.77 billion, up 13.15 percent year-on-year. But it was slower than the 15.86 percent rise recorded in the January-October period, when FDI totaled $95.01 billion.

The data highlights increasing risks facing China's growth, Reuters reported on Thursday.

However, MOFCOM spokesman Shen Danyang said that the figure for a single month can be affected by various factors and shouldn't be interpreted as a trend.

The long-term prospects for FDI in China are good, given the country's "progressively unleashed market potential, strengthened industrial support capacity and better FDI environment," Shen said at a press conference on Thursday.

China has been the most attractive FDI destination among developing countries for 19 years up to and including 2010, according to MOFCOM.

"And for 2011, China won't drop out of the first three," said Lu Jingyong, director of the China Research Center for Foreign Direct Investment at the University of International Business and Economics, told the Global Times on Thursday.

According to MOFCOM, the service sector saw an 18.54 percent year-on-year growth in FDI to $48.77 billion during the January-November period, compared with 7.56 percent growth to $47.32 billion in the manufacturing sector.


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