FDI said to fall 23% in April

Foreign direct investment (FDI) into China fell 23% year-on-year in April, the Wall Street Journal reported, citing an anonymous source said to be familiar with the as-yet-unreleased data. It was the seventh consecutive month of declining foreign investment, and a sharper fall than the 9.5% drop recorded in March. However, the April figure was recorded off a high base set last year. Total FDI was US$5.892 billion; FDI for the first four months of the year was US$27.669 billion, down 21% year-on-year. Official data is expected to be released soon by the Ministry of Commerce.