BEIJING (AP) - Foreign investment in China slowed in April as the government tried to cool an overheated economy.
Foreign spending on factories and other nonfinancial assets rose by 15.2 percent to $8.5 billion, the Commerce Ministry said Tuesday. That was less than half of March's rapid 32.9 percent growth rate.
The government has tightened investment curbs and hiked interest rates four times since October to cool an economy that grew by 9.7 percent in the first quarter of the year.
Foreign direct investment in China plunged after the global crisis in 2008 but rebounded strongly last year as companies rushed to take advantage of the country's quick recovery.
China is a top investment destination and says FDI last year totaled $105.7 billion. FDI does not include investment in stocks and other financial assets.
Data reported earlier showed China's imports, manufacturing and other economic activity slowed in April, though to still-robust levels.
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Ministry of Commerce (in Chinese): www.mofcom.gov.cn