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FDI in China Declines 20.6% in Q1

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[Ni] CBI Morning Review - 2009/5/15 Nickel Market

BEIJING, May 15 -- Foreign direct investment (FDI) in China posted a 20.6 percent year-on-year decline in the first quarter to US$21.78 billion, the Ministry of Commerce announced Wednesday.
&nbsp;&nbsp;&nbsp; In March, FDI was US$8.4 billion, the biggest amount since October 2008 which was US$8.35 billion. However, the March figure was down 9.5 percent from a year earlier, ministry spokesman Yao Jian said at a news conference.
&nbsp;&nbsp;&nbsp; March was the sixth consecutive month that FDI fell. The good news is that the decline eased from the 15.81 percent drop in February and a 32.67 percent drop in January.
&nbsp;&nbsp;&nbsp; Zhang Hanya, an economist with the National Development and Reform Commission said a reduced decline indicated overseas investors growing confidence in the country's economic recovery. 
&nbsp;&nbsp;&nbsp; Chinese Premier Wen Jiabao said Saturday that the Chinese economy showed signs of positive improvement in the first quarter as a result of the economic stimulus package adopted by China.
&nbsp;&nbsp;&nbsp; Yao added stable investment inflows were important for the country to stabilize exports, enhance employment and boost consumption as the government tries to make China more attractive to investors. 
&nbsp;&nbsp;&nbsp; The ministry said in March it was shifting authority for approving certain foreign investments to provincial governments.
&nbsp;&nbsp;&nbsp; (Source: Xinhua) &nbsp;

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FDI in China Declines 20.6% in Q1 | Shanghai Non ferrous Metals

FDI in China Declines 20.6% in Q1

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