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Foreign direct investment, or FDI, into China fell for the 10th time in 11 months... Following rising labor costs and slowing growth in the country for seven straight quarters.
PKG
According to the Ministry of Commerce on Tuesday, China's FDI inflows fell 5.4 percent in November from a year earlier...
And investment into the country, has been declining since June.
But ministry spokesman Shen Danyang predicts foreign investment into China next year will remain stable, and not see a further fall.
Shen says the conditions driving growth of FDI haven't disappeared.
Including continuing recovery in the economy...With better factory output and retail sales seen in the last few months, suggesting China's consumer market drive is working...
Along with recent calls from the new leader of the ruling Communist Party of China, Xi Jinping, and the recent Economic Work Conference 2012 to further China's market reforms...
Which could create a better investment environment... And boost investor confidence in China.
Shen says China overtook the United States to become the world's top destination for foreign investment in the first half of the year.
But he still warns of a grim situation in attracting overseas investment next year, with global investment growth to remain weak... And China's production costs, to rise...
While its push towards innovative, high-tech manufacturing is still in the pipeline...
Already, the world's biggest company, Apple, has announced plans to move some of its manufacturing out of China - citing a lack of skilled workers as their main reason.
According to the ministry, in the first 11 months of 2012, China attracted more than 100 billion U.S. dollars in FDI, down 3.6 percent year on year.
Unless its reforms to support more competition and more creativity take effect quickly, those declines could continue.
TAG
China's FDI from America climbed 6.3 percent this year, and grew by even more from Japan, expanding 11.3 percent year on year.
While FDI from the eurozone fell 2.9 percent from last year.
