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Foreign investment is not leaving China: commerce minister

BEIJING: China’s commerce minister on Tuesday sought to assuage concerns that foreign investment is leaving the country, saying claims to that effect were “biased.”In comments made to reporters, Gao Hucheng didn’t elaborate on the ministry’s views though data over the past few months have shown a pick up in fund outflows.”In recent years some products have indeed moved offshore but at the same time many high-end industries have moved to China,” Gao told reporters.Foreign direct investment to China fell 9.2 percent in January to 80.1 billion yuan.An annual survey from the American Chamber of Commerce in China released last month showed that more than 80 percent of its members felt less welcome in China than before and most had little confidence in China’s vows to open its markets.Since late last year, authorities have also been tightening restrictions on capital outflows, reining in what officials have called “irrational” outbound investment.The curbs probably explained a fall in outbound direct investment, which plummeted 35.7 percent in January to 53.27 billion yuan, the weakest in over a year.Gao added that consumption will continue to grow rapidly this year, while the foreign trade environment will remain complex.Cooperation is the only option for the U.S.-China trade relations as a healthy relationship is beneficial for both sides, he…

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