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MENAFN - Qatar News Agency - 21/01/2013

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(MENAFN - Qatar News Agency) Foreign Direct Investment (FDI) in China fell 3.7% from a year earlier to US 111.7 Billion in 2012, according to a statement issued by the Chinese Ministry of Commerce Sunday.

For the first time in three years, the FDI has dropped from an all-time high of 116 Billion recorded in 2011 and was the first year-on-year decrease since 2009, according to previous figures.

Ministry spokesman Shen Danyang said, in 2012, Chinese directly invested 77.22 Billion overseas in non-financial sectors in 141 countries and regions, an increase of 28.6% from the year before.

The investment figures come as China's economy slowed throughout most of 2012, while developed economies such as the United States, the European Union and Japan largely remained weak.

For the month of December FDI into China also fell, slipping 4.5% from the same month in 2011 to 11.7 Billion, the commerce ministry said.

In the past year increased FDI from the US was 4.5% per annum up to US 3.13 Billion and from Japan it increased 16.3% to US 7.38 Billion.

Attributing the 3.7% decline in foreign funds partly to less investment in manufacturing, Shen Danyang said some investors have moved out of China for even cheaper labour costs and less stringent production criteria, Shanghai Daily reported.

 






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