Foreign investment in China falls

Foreign investment in China fell in January and February as overseas companies were hit by the global recession, official figures have shown.

The amount of direct investment from abroad was $13.3bn (?.5bn) - a drop of 26.2% from the same period a year ago.

Holidays over China's Lunar New Year mean the combined January and February figures are seen as a better indicator of the economy than monthly data.

The number of newly-established firms fell 13%, the commerce ministry said.

Foreign investment - which rose by 23.6% in 2008 to $92.4bn - has been one of the factors driving the rapid growth of China's economy.

But analysts say the figure has been under pressure in recent months amid the financial crisis - with further drop-offs in investment expected to contribute to the slowing pace of growth in China.

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