China's Foreign Direct Investment Faces Decline

Foreign direct investment in China reached 693.2 billion yuan from January to October, marking a 29.8% decrease compared to the same period last year. The Chinese commerce ministry noted the decline was a bit less steep than the 30.4% drop observed from January to September.

Foreign direct investment in China totaled 693.2 billion yuan, approximately $95.92 billion, from January through October, according to a statement from the Chinese commerce ministry on Friday.

This figure represents a 29.8% decrease from the same timeframe in the previous year. The minor easing in the decline is noted as compared to the 30.4% drop during the first nine months of the year.

The current exchange rate is $1 to 7.2267 yuan. This development signals continuing challenges for foreign investment in China amidst fluctuating global economic conditions.

(With inputs from agencies.)