MOFCOM: Actual FDI declines 32.6%

Actual foreign direct investment (FDI) in China totaled US$7.54 billion in January, down 32.6% year-on-year, state media reported, citing a Ministry of Commerce announcement. The number of foreign-funded enterprises approved also dropped 48.7% to 1,496. Yao Jian, a spokesman for the ministry, blamed the decline on last year’s high base and the Lunar New Year holiday. Yao said that more opportunities for foreign investment are expected in coming months as new macroeconomic policies come into effect.