China’s FDI drops (Lead)

July 17th, 2012 - 3:14 pm ICT by IANS  

Beijing, July 17 (IANS) China attracted $12 billion in foreign direct investment (FDI) in June, 6.9 percent lass than a year earlier, it was announced Tuesday.

The figure took the country’s first-half FDI inflow to $59.1 billion, down 3 percent year on year, commerce ministry spokesperson Shen Danyang said.

Investment from the debt-ridden European Union (EU) rebounded one percent in the first half from a year ago, Xinhua quoted Shen as saying.

From January to May, investment from the EU declined 5.1 percent, according to ministry data.

It showed that a total of 2,444 new companies were founded with foreign capital in June, down 16.3 percent year on year.

In the first six months, 11,705 new companies were set up, 13.1 percent fewer than in the same period last year.

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