FDI in China falls for sixth month

BEIJING - Foreign direct investment (FDI) into China fell for a sixth straight month in April amid global economic woes.

In year-on-year terms, FDI edged down 0.74 percent to $8.4 billion in April, following a 6.1 percent drop in March, 0.9 percent decline in February and 0.3 percent fall in January, the Ministry of Commerce said Tuesday.

The country received $37.88 billion of FDI in the first four months, down 2.38 percent from a year earlier, MOC spokesman Shen Danyang said at a press conference in Beijing.

Investment from the debt-ridden European Union plunged 27.9 percent in the January-April period from a year ago. However, that from the United States and Japan climbed 1.9 percent and 16 percent, respectively, Shen said.

The nation approved the establishment of 7,016 foreign-invested companies in the first four months, down 13.94 percent from a year ago.

However, as investment into China drops, the country's outbound investment has surged. The country's non-financial overseas direct investment totaled $23.16 billion in the first four months, up 72.8 percent from a year earlier.