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FDI flows to China slow down
November 13, 2003 12:05 IST
Foreign direct investment in China dropped for the fifth consecutive month in October, but there is no need for the country to be worried, a media report said on Thursday.
According to the latest figures released by China's Ministry of commerce, actual FDI in the country was $43.56 billion in the January to October period, a rise of 5.81 per cent from a year earlier.
Contracted foreign investment, an indicator of future trends, rose 33.75 per cent year-on-year in the first 10 months to $88.68 billion, the ministry said.
Foreign investment slipped by more than 30 per cent in October from a year earlier to $3.2 billion, while contracted investment in the single month surged by 43 per cent to $6.6 billion.
"However, there is no need for China to worry since the momentum is still robust," director of the foreign investment research department of the Chinese Academy of International Trade and Economic Co-operation, Jin Bosheng was quoted as saying by China Daily, an official newspaper.