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Coronavirus outbreak drags China’s FDI down 8.6% in Jan-Feb

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Via China Daily

A bank staff member counts RMB and US dollar notes in Nantong, Jiangsu province, on Aug 28, 2019. [Photo/]

BEIJING – Foreign direct investment (FDI) into the Chinese mainland fell 8.6 percent year-on-year in the first two months of 2020 amid the combined impacts of the novel coronavirus outbreak and extended Lunar New Year holidays, a commerce official said Friday.

The FDI totaled 134.4 billion yuan ($19.2 billion) for January and February, said Zong Changqing, director of foreign investment department under the Ministry of Commerce.

A breakdown of the data showed FDI inflows climbed 4 percent year-on-year in January but plunged 25.6 percent in February, Zong told a press conference.

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