China's FDI inflow declines but less sharply

FOREIGN direct investment (FDI) into China dropped 0.24 percent year on year in October to US$8.31 billion, according to figures released by the Ministry of Commerce today.

The drop was less sharp compared to September, when FDI into China dropped 6.8 percent year on year to US$8.43 billion.

Nevertheless, this is the fifth consecutive monthly drop in the country's FDI inflow. The figure brought the total FDI inflow for the first 10 months of 2012 to US$91.74 billion, down 3.45 percent year on year, said ministry spokesman Shen Danyang.

In the first 10 months, investment from the United States reversed a trend of decline and rose 5.3 percent year on year to US$2.7 billion. Investment from Japan surged 10.9 percent from a year earlier to US$6.08 billion, Shen said.

Investment from the EU dropped 5 percent year on year to US$5.24 billion.

The fall was smaller compared to the first nine months. Investment from the EU dropped 6.3 percent year on year to US$4.83 billion from January to September.