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Updated Thursday, December 11, 2008 10:47 am TWN, Bloomberg

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Foreign direct investment in China fell 36.5% on year

BEIJING -- Foreign direct investment in China fell 36.5 percent in November from a year earlier as gains by the yuan stalled and the world’s fourth-biggest economy cooled. Investment was US$5.3 billion, the commerce ministry said on its Web site Wednesday, the least in 14 months.

The World Bank is forecasting China’s weakest growth in almost two decades next year after export demand and construction slumped. The central bank has stalled gains by the yuan against the dollar since mid-July and last month slashed interest rates by the most in 11 years.

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