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Video: China Jan. FDI -7.3%


08:23, February 21, 2013

The declining trend of China’s investment inflows extended to 2013, at an even faster pace. The Ministry of Commerce says China attracted 9.3 billion US dollars of foreign direct investment, down 7.3% year on year in January. This is the eighth consecutive monthly decline, and steepest fall since a 9.9 percent drop in November 2009, prompting renewed concerns that the world’s second largest economy is losing steam in attracting foreign capital. But the MOFCOM spokesman says the performance is better than the average level of global FDI.

Shen Danyang ,spokesman of China’s Ministry of Commerce, said:"Global FDI flows have been affected by the global economic environment, and was in a downward spiral in recent years. This year so far, we haven’t seen positive signs for global investment. According to latest UN report, last year global FDI flows dropped 18 percent, and that was down 9.5% in Asia."

China saw its first annual decline in FDI in 2012, a fall of 3.7%. The spokesman says it’s unlikely a sharp down-turn of FDI will be seen this year. But one expert says foreign companies are facing rising challenges and competition in China.

China aims to bring in 120 billion US dollars worth of FDI each year between 2012 and 2015. Analyst expect that later in the year FDI will rebound modestly, as global business confidence improves, and on the delayed impact of the Chinese recovery.

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