There is no statistical support for the notion that foreign capital is withdrawing from the world's second-largest economy, said a Ministry of Commerce (MOFCOM) spokesperson Tuesday, although August data shows foreign investment in China continues to drop.

 

Figures released by MOFCOM Tuesday show that foreign direct investment (FDI) into non-financial sectors in August was 7.2 billion USD, down 14 percent over the same period last year.

The margin of the drop in August is narrowed by 2.95 percentage points from that of July, when the FDI inflow saw a 16.95 percent year-on-year drop.

 

Addressing a question on whether foreign capital is leaving China, Shen Danyang, MOFCOM spokesperson, said there is no data supporting such a theory.

Experts say the FDI data is a sign of underlying economic factors, but it is too early to call it a trend, as figures over two months are too small compared to the annual total.

 

For the first eight months, FDI, which excludes investment in the financial sector, stood at 78.34 billion USD, edged down 1.8 percent from the same period in 2013, the ministry said.

 

He cautioned the data should not be considered a trend characterized by an exodus of foreign capital from China. 

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