China’s FDI drops 27.6% in Nov due to high comparison base last year: MOFCOM

Source:Global Times Published: 2018/12/13 22:28:43

Foreign direct investment (FDI) in China dropped 27.6 percent year-on-year in November to $13.6 billion due to a high base during the same period last year, Gao Feng, spokesperson of the Ministry of Commerce (MOFCOM), said on Thursday.

However, in the first 11 months of the year, China's FDI rose 1.1 percent year-on-year to $121.26 billion, according to Gao.

China's manufacturing industry attracted FDI worth 241.02 billion yuan during the same period, up 16 percent on a yearly basis, according to MOFCOM data. Electronics and communication equipment manufacturing, medical instruments, and computer and office equipment manufacturing sectors increased by 36.4 percent, 132.5 percent and 112.7 percent, respectively.

From January to November, investment growth from countries including Japan, the US and Germany rose 7.4 percent, 38.7 percent, 198.9 percent, 20.1 percent, 3.7 percent and 30.2 percent on a yearly basis, respectively, Gao said.

Investment from countries and regions along the Belt and Road initiative routes, the Association of Southeast Asian Nations and the EU was up 14.9 percent, 15.7 percent and 16.1 percent year-on-year, respectively, in the first 11 months, MOFCOM said.



Posted in: MARKETS,ECONOMY

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