Foreign direct investment in China falls 7th month

Foreign direct investment (FDI) into China in December fell for the seventh straight month amid the country's economic slowdown, according to figures released by the Chinese Commerce Ministry on Wednesday. The country's FDI inflow declined 4.5 percent last month from a year earlier to USD 11.7 billion, but the pace of drop slowed from 5.4 percent in November. The country's FDI inflow has been declining since June. For the full year, FDI slid 3.7 percent in 2012 on the year to USD 111.7 billion, ministry said. FDI from the US in 2012 climbed 4.5 percent from the previous year, while that from Japan surged 16.3 percent. But FDI from the euro-zone fell 3.8 percent. The decline echoed a slowdown in the world's second-biggest economy's growth last year, as it grew by 7.4 percent year on year in the third quarter of 2012, slowing for the seventh consecutive quarter, state-run Xinhua News Agency said. "China's economic growth will be generally sound in 2013," Xinhua quoted Commerce Minister Chen Deming as saying in Beijing on Monday. At a meeting with large foreign enterprises investing in China, Chen predicted that FDI into China in 2013 will stay at the level of last year as domestic consumption and investment are likely to maintain steady growth. "Representatives of foreign companies investing in China are still positive about China's investment climate and expressed willingness to continue to expand their investment," said ministry spokesman Shen Danyang, who also attended the meeting.