Foreign Direct Investment In China Falls 17.8 Pct

Under the failed deal, Chinalco would have invested $12.3 billion in joint investments in aluminum, copper and ore mining with Rio Tinto, and spent $7.2 billion on convertible bonds in the company.

China is a top destination for investment but companies have canceled or postponed spending on factories and other assets due to weakening trade and the global financial turmoil.

Foreign direct investment last year rose 23.6 percent from 2007 to $92.4 billion, though growth began to weaken toward the end of the year.

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Associated Press researcher Bonnie Cao in Beijing contributed to this report.

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On the Net:

Chinese Ministry of Commerce (in Chinese): www.mofcom.gov.cn