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Foreign direct investment in China reached an estimated US$13.6 billion in November, declining 27.6% from a year earlier, according to data released by the Ministry of Commerce, the People’s Daily reported.
A spokesman for the ministry attributes the year-on-year drop to the high base over the same period last year. While November FDI compared to October’s US$9.7 billion, it continued to expand from the previous month.
High-tech manufacturing remains attractive to foreign investors, drawing 78.13 billion yuan (US$11.35 billion) from January to November, rising 30.2% from last year.
Amongst the latter, electronics and communication devices, medical equipment and the computer manufacturing sector increased by 36.4%, 132.5% and 112.7% year-on-year, respectively.
For the first 11 months, FDI was US$121.26 billion, increasing 1.1% from a year earlier.