Foreign investment into China slowed for a fourth straight month in April, underscoring Beijing’s struggle to attract more overseas funds to boost its flagging economic growth.

New actually utilized foreign investment into China was 58.5 billion yuan (US$8.1 billion) last month, according to calculations based on figures provided by the Ministry of Commerce on Friday. That was down 36 per cent compared with the same month in 2023 and was the second-lowest result for any month since late 2019. 

The release comes after separate data from the central bank showed the value of inbound new investment fell 56 per cent in the first quarter. Capital outflows also worsened in April, underscoring headwinds for the yuan amid a weak domestic economy and uncertainties over the U.S. Federal Reserve’s rate trajectory.