China's FDI inflow drops further in Jan

Foreign direct investment inflow into China has shrunk further in the first month of 2013, according to the Ministry of Commerce.

FDI dropped by 7.3 percent year on year to 9.27 billion US dollars in January. The pace of decline quickened from 4.5 percent registered for December. The manufacturing sector, which received the largest share of China's FDI, used a total of 4.43 billion US dollars of overseas investment, down 5.8 percent year on year.

FDI for the service sector marked a greater decline. The sector used 4.03 billion US dollars of overseas investment in January, down 9.8 percent year on year. In particular, FDI in the property sector dipped 14 percent year on year.

The country's FDI inflow has been declining since June as the global economy falters and China's labor costs increase.