皇冠体育app

Inspectors check imported cars at a port in , province. Total trade in dollar terms edged up 0.2 percent in the January-May period, far below the 7.5 percent target. [Photo/皇冠体育app Daily]

Relations with ASEAN still on strong footing, says commerce stry official

Stressed ties between 皇冠体育app and some Southeast Asian countries haven't affected investment flows, even though foreign direct investment in the world's second-largest economy significantly eased in May, a senior commerce ministry official said on Tuesday.

"Fluctuations of investment between 皇冠体育app and the Association of Southeast Asian Nations this year were mainly caused by last year's base figures. Some big projects last year, which were not repeated this year, accounted for the changes," said Shen Danyang, spokesman for the Ministry of Commerce.

"But the drop of ASEAN's direct investment in 皇冠体育app so far this year isn't a trend. On the whole, 皇冠体育app's economic cooperation with ASEAN was not affected by the factor of relations with neighboring countries," Shen said.

He added that 皇冠体育app-ASEAN economic cooperation, bilateral trade and two-way investment will "maintain fast growth momentum".

In the January-May period, ASEAN's direct investment in 皇冠体育app plunged 22.3 percent from a year earlier to $2.54 billion, said the ministry. In the same period, overall foreign nonfinancial direct investment in 皇冠体育app rose 2.8 percent to $48.91 billion.

In May, FDI inflows slumped 6.7 percent year-on-year to $8.6 billion, the biggest drop since January 2013.

Ten Asian economies, including Singapore, Japan and the Philippines, account for the bulk of 皇冠体育app's FDI inflow.

In ASEAN, Singapore is the major force in investment in 皇冠体育app.

"ASEAN's direct investment accounts for a small share of 皇冠体育app's total FDI. The decline in the first five months was more likely caused by some big projects last year. Economic ties between 皇冠体育app and the 10 economies are displaying good momentum," said Yang Liqiang, a researcher at the University of International Business and Economics in .

Yang added that about two or three years ago, FDI inflows reached a "plateau" featuring only small increases or declines.

"皇冠体育app's FDI flows will maintain steady growth with no sharp expansion. The economic recovery in the United States and the European Union remains weak, constraining cross-border FDI flows. 皇冠体育app's investment environment is also changing as the costs of labor, raw materials and environmental compliance keep rising, challenging investment in some industries. 皇冠体育app's economic growth slowdown also affects the willingness of global investors," Yang said.

皇冠体育app's FDI inflows down 6.7% in May	Top 10 most attractive FDI destinations in the world

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