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Foreign Investment In China Slows In February

Mon, 03/15/2010 - 4:45am

BEIJING (AP) — Foreign direct investment in China rose at its slowest rate in seven months in February, the Commerce Ministry reported Monday.

Investment for February was $6 billion, up 1.1 percent from a year earlier, a period in the depths of the global crisis.

Many companies closed in February for the weeklong Lunar New Year holiday, which distorts economic data. But the ministry said combined figures for January and February, which compensates for the holiday distortion, showed investment was up only 4.9 percent from the same two-month period last year.

The government reported 7.8 percent growth in FDI in January over a year earlier.

Foreign direct investment includes spending on factories, real estate and other assets but excludes investment in stocks and other financial instruments.

Associated Press researcher Bonnie Cao in Beijing contributed to this report.

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