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China May FDI Falls 1% From a Year Ago to $8.89 Billion

June 12, 2016, 2:33 PM UTC
General Economy Images As China's November Property Prices And Foreign Direct Investment Data Are Released
Commercial and residential buildings stand in the Luohu district of Shenzhen, China, on Wednesday, Dec. 18, 2013. New home prices in Chinas four major cities rose, with the southern business hub of Shenzhen posting the biggest gain in almost three years, as property measures by local governments failed to deter buyers. Photographer: Brent Lewin/Bloomberg via Getty Images
Brent Lewin/Bloomberg

China’s foreign direct investment (FDI) fell 1% in May from a year earlier to 56.77 billion yuan, or $8.89 billion, the Commerce Ministry said on Sunday.

This is the first year-on-year decline since December, when FDI dropped 5.8% from the year ago month.

FDI rose 3.8% in January-May from a year earlier to 343.55 billion yuan, or $54.19 billion, the ministry said in a statement.

Earlier data showed FDI gained 6% in April from a year earlier, following a rise of 7.8% in March.

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The ministry has started releasing yuan-denominated FDI since early 2015, along with equivalent dollar figures based on its own conversion.

Foreign investment in the services sector rose 7% in January-May to 241.8 billion yuan, or $38.2 billion, accounting for 70.4% of all FDI, said the ministry, with investment in high-tech services jumping 94.7% year-on-year.

Investment in the manufacturing sector fell 3.2% in January-May to 98.9 billion yuan, or $15.5 billion, making up 28.8% of the total FDI, the ministry said.

FDI from the United States soared 140.2% in January-May from a year earlier while investment from Britain rose 110%, the ministry said.