6.9% fall in China's FDI in June

Foreign direct investment (FDI) in China dipped 6.9 per cent in June from the previous year, the government said yesterday.?It signalled?additional efforts to draw capital from?overseas in the world's second largest economy.

Inbound investment declined to US$12 billion, the Ministry of Commerce said yesterday in Beijing. That's the largest fall since December and compares with a less than 0.1 per cent gain in May following a six-month slide.

The country may make it easier for overseas investors to pay a lower withholding tax on dividends they repatriate. The head of China's top economic planning agency said the nation will encourage foreign investment in industries including high-end manufacturing and technology.

"Foreign companies and investors will be more encouraged to pick up investments in China when there is greater clarity on the track of the domestic economy," said Patrick Bennett, a strategist at Canadian Imperial Bank of Commerce in Hong Kong. He sees a "modest contraction in foreign investment growth" in the second half.

Source: http://www.gowealthy.com/gowealthy/wcms/en/home/news/6-9pc-fall-in-China-s-FDI-in-June.html

michael madsen spring forward day light savings day light savings daylight saving time 2012 grapes of wrath silent house