China Money

Foreign direct investment in China was 17 per cent down year-on-year in July to 7.81 billion dollars, Beijing’s Trade Ministry said Monday.China Money

The results bring foreign investment for the first seven months of the year down to 0.35 per cent lower than the same period last year, after the figure slowed to 0.2 per cent year-on-year in June, state-run news agency Xinhua cited the ministry as saying.

Chinese investment abroad jumped 84.9 per cent in July from a year earlier, the report said, compared with a decline of 5 per cent year-on-year for the January-to-June period.

The figure put overseas direct investment at 4 per cent year-on-year for the first seven months of 2014.

The government said there was no link between the dip in foreign investment, and recent measures against alleged retailers of imports.

“We are not only targeting foreign companies,” Trade Ministry spokesman Shen Danyang said.

The Chinese anti-competition watchdog is investigating alleged collusive price-fixing by retailers of high-end automobiles, including German-made BMW, Audi and Daimler, makers of Mercedes Benz.

House prices also fell in 64 of 70 surveyed cities, up from 55 cities in the previous month, Xinhua reported, citing the Natinal Bureau of Statistics.

These included a dip of 1.0 per cent in Beijing in July compared with June, of 1.2 per cent in Shanghai, and 1.3 per cent in the southern city of Guangzhou.

The drop was the largest since some restrictions on real estate transactions were lifted in April 2011.

GNA
PDC

Advertisements

Send your news stories to [email protected] and via WhatsApp on +233 234-972-832 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.