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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