Lower investments abroad by China in 2017

TheStar Wed, Jan 17, 2018 11:35am - 6 years View Original


BEIJING: China’s non-financial outbound direct investment in 2017 fell 29.4% year-on-year to US$120.08bil, the commerce ministry said, as firms backed off from speculative overseas investment amid a government crackdown.

Outbound direct investment (ODI) in December alone rose 49% year-on-year to US$12.53bil, according to Reuters calculation on official data, extending gains from a 34.9% annual growth in November.

The positive ODI growth in the past two months is largely thanks to increased Chinese investments in manufacturing and information sector, the ministry said, while no new Chinese investments were made in property, sports and entertainment industries.

“Irrational” overseas investment has been effectively contained, added the commerce ministry.

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