November saw foreign direct investment (FDI) into China fell for the 10th time in 11 months, as labor costs rose and an economic slowdown dragged growth down for seven quarters in a row.
The country’s FDI inflow decreased 5.4 percent in November from a year earlier, and the pace of drop accelerated from 0.24 percent in October, according to data released by the Ministry of Commerce on Tuesday. The country’s FDI inflow has been declining since June.
In the first 11 months of 2012, China attracted 100.02 billion U.S. dollars in FDI, down 3.6 percent year on year, ministry spokesman Shen Danyang said at a press conference.
FDI from the United States climbed 6.3 percent during the January-November period, with that from Japan expanding 11.3 percent year on year. However, FDI from the eurozone fell 2.9 percent from one year before.