FDI in China falls for 6th consecutive month

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FDI in China falls for 6th consecutive month

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Europe is China's key trading partner and its on-going economic troubles have hurt the Asian giant.

15 May,2012 10:20 am

Foreign direct investment (FDI) in China fell for the sixth consecutive month in April, official figures showed Tuesday, dragged down by a plunge in fund flows from crisis-struck Europe.Investment from overseas fell 0.7 percent from a year earlier to $8.4 billion, the commerce ministry said.In the first four months of the year, FDI reached $37.9 billion, down 2.4 percent from the same period in 2011.Investment from the European Union, in the throes of a major sovereign debt crisis, tumbled 27.9 percent on year to $1.9 billion in from January to April.Europe is Chinas key trading partner and its on-going economic troubles have hurt the Asian giant.However, Tuesdays figures showed investment from the United States rising 1.9 percent in the first four months to reach $1.05 billion.