China’s January influx of foreign direct investment (FDI) declined at the fastest pace in more than three years, Reuters reported. China attracted US$9.3 billion in FDI, a 7.3% fall year-on-year, according to data released by the Ministry of Commerce on Wednesday. The fall is the worst slump since 2009 and the largest year-to-date decline since a 9.9% slide in November 2009. January FDI fell from a figure in December of US$11.7 billion. The plummet signals China’s weakened status as a manufacturer of exports vis-a-vis the rise of cheaper competitors such as Vietnam and Indonesia, said Zhang Zhiwei, an economist at Nomura.
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