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China's foreign direct investment falls in January

Update: February, 16/2012 - 12:16

BEIJING – Foreign direct investment in China fell in January for the third straight month as European investment plunged amid the deepening debt crisis, official data showed on Thursday.

Investment by overseas companies fell 0.3 percent year-on-year to US$10 billion last month, the commerce ministry said, compared with $12.2 billion in December.

Inward investment from Europe fell 42.49 percent from a year earlier to $452 million, while US investment rose 29.05 percent to $342 million.

Investment from countries in the Asian Pacific region rose 0.77 percent to $8.59 billion.

Analysts have warned that economic data for January may be distorted by thee unusually early Chinese Lunar New Year holiday, which fell in January.

Many companies close their doors during the week-long break, also known as the Spring Festival, so employees can travel home to celebrate the most important festival in the Chinese calendar with their families. AFP

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