China's foreign direct investment in June falls 6.8% from '08

15 July 2009 10:23  [Source: ICIS news]

GUANGZHOU (ICIS news)--China’s foreign direct investment in June fell 6.8% year on year to $8.96bn (€6.45bn), the ninth consecutive monthly decrease, the Ministry of Commerce announced on Wednesday.

However, the fall in June had substantially narrowed compared to an average decline of 15% in the previous eight months, said ministry spokesman Yao Jian.

The ministry expected the downward trend in the country's foreign direct investment to come to an end in the coming months, according to the spokesman.

Total foreign direct investment in the first half of 2009 was $43bn, down 18% from the corresponding period of 2008, the spokesman added.

In the manufacturing sector, foreign direct investment in the January-June period dropped 10%, suggesting that China remained a relatively attractive destination for manufacturing, said Yao.

The continuing fall in China's foreign direct investment was due to the international financial crisis, he said.

($1 = €0.72)

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