Inbound FDI in China Slows for 2012, Outbound Grows

China has recorded a drop in foreign direct investments this year, its Commerce Ministry announced on Tuesday (November 20). That's in contrast with the amount of Chinese investments overseas, which has seen an increase over the same period. Chinese official blame the poor inbound FDI performance on the weak global environment. [Shen Danyang, Chinese Commerce Ministry Spokesman]: "Since the beginning of this year, the global economic situation has been serious and complicated, and there are still many uncertain factors. And the most uncertain, or most severe, of these is the weak world demand." There was $91.7 billion in inbound FDI between January and October. That's about 3.4% lower than the same period last year. In contrast, outbound FDI grew by more than 25% for the same period. While foreign direct investments in China could still reach $100 billion this year, it falls short of the $120 billion goal. That's not the only target set to be missed. Import and export figures have also been lackluster. [Shen Danyang, Chinese Commerce Ministry Spokesman]: "According to customs statistics, from January to October, China's exports and imports expanded by 6.3 percent. Export growth was comparatively good - it grew by 7.8 percent. We must say that it really is very difficult to achieve the 10 percent annual target for trade growth this year." China's export market made almost $2 trillion dollars in 2011 and accounted for 31% of GDP last year. China's economy still remains largely dependent on foreign markets and investors, despite regulators' push to shift towards domestic demand. With rising wages in China and a slowing global and local economy, many are predicting tough times ahead for the world's second largest economy. For more news and videos visit ☛ http://ntd.tv Follow us on Twitter ☛ http://twitter.com/NTDTelevision Add us on Facebook ☛ http://on.fb.me/s5KV2C