China FDI drops 28.2% YoY in January to May

Written by Miroslav Marinov

Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.

, | Updated: October 30, 2024

Foreign direct investment in China decreased 28.2% year-on-year to 412.5 billion yuan in the period January to May 2024.

It has been a record drop for the first five months of the year, according to the Ministry of Commerce of the People’s Republic of China.

50.41 billion yuan were invested in the high-tech manufacturing industries, or a 2.7% increase compared to the same period a year ago.

Foreign direct investment in the smart consumer equipment manufacturing sector soared 332.9% YoY and investments in professional and technical services went up 103.1% YoY.

Foreign direct investment from Germany surged 24.2% YoY, the data showed.

The USD/CNY currency pair settled 0.01% higher at 7.2609 on Friday. For the week, the currency pair edged up 0.08%, as it extended the gains from the prior two weeks.

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