Investment from ASEAN drops 57% as total FDI rises

Caixin reports that Chinese foreign direct investment from ASEAN fell 57% year on year to 1.87 billion yuan in June, the commerce ministry said on July 19. But total inbound foreign investment in the first six months rose 5% to over 440 billion yuan, or about US$ 70 billion year on year, despite the sharp drop from ASEAN. The volume of exports and imports between China and ASEAN reduced 7.1% in the first five months, according to the ministry. China has been ASEAN’s top trading partner for seven consecutive years, and the regional grouping with 10 emerging economies from South East Asia was China’s third largest trade destination from 2012.