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People's Daily Online>>China Business

Foreign investment falls in China for 4th month

By Wang Yanlin (Shanghai Daily)

08:17, March 16, 2012

Foreign direct investment in China fell for the fourth straight month in February as European investors continued to curb spending amid their prolonged debt crisis.

In comparison, capital from Asia and the United States picked up.

Foreign investors channeled a total of US$7.73 billion to China last month, the value of which declined 0.9 percent from a year earlier, the Ministry of Commerce said yesterday.

The pace in February weakened from a reduction of 0.3 percent in January, but was better than December's 12.7 percent cut.

The 27-member European Union placed US$906 million in China in the first two months - a drop of 33.3 percent from a year earlier.

"Less foreign investment is expected because companies are reining in spending amid so many uncertainties," said Xue Jun, an analyst at CITIC Securities Co. "The downward trend will continue if Europe can't end its economic woes."

But input from American investors still rose 0.87 percent to US$525 million between January and February, while investment from 10 Asian countries and regions, including Japan, South Korea, the Philippines, Thailand and Malaysia, jumped an annualized 2.66 percent to US$15.3 billion, or a majority of China's US$17.7 billion FDI in the first two months.

"Apart from caring about the volume of foreign investments, we should pay more attention to their quality, making it in line with our growth target set up for the 12th Five-Year Plan," Xue said.

China has lowered its economic growth target to 7.5 percent this year from the 8 percent in place since 2005, aiming at a more balanced and healthier growth pattern.

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