(MENAFN - Qatar News Agency) November saw foreign direct investment (FDI) into China fell for the 10th time in 11 months, as labor costs rose and an economic slowdown dragged growth down for seven quarters in a row.
The country's FDI inflow decreased 5.4 percent in November from a year earlier, and the pace of the drop accelerated from 0.24 percent in October, according to data released by the Ministry of Commerce on Tuesday. The country's FDI inflow has been declining since June, according to Xinhua news service.
"The scale of foreign investment China attracts next year will remain stable, and not see significant drops," ministry spokesman Shen Danyang predicted at a press conference.
The spokesman said the momentum driving the growth of FDI has not yet disappeared. Favorable conditions include continuing recovery in the economy and robust foreign investor confidence, as well as good investment environments such as a potentially huge consumer market, strong supporting industries and competitive human resources.
In the first 11 months of 2012, China attracted 100.02 billion US dollars in FDI, down 3.6 percent year on year, according to the ministry.
FDI from the United States climbed 6.3 percent during the January-November period, with that from Japan expanding 11.3 percent year on year. However, FDI from the eurozone fell 2.9 percent from one year before.