China expects to be net investor
Print Edition
CHINA’S outbound direct investment is set to overtake inbound foreign direct investment soon to realize the “historic transformation” of the country into a net investor, said Vice Commerce Minister Zhong Shan yesterday.
Another significant point is that Chinese investors have increased investment in developed markets such as the United States and the European Union, Zhong noted.
Chinese companies invested a total of US$102.9 billion overseas last year, the amount coming close to the US$119.6 billion for inbound foreign direct investment, Zhong said at a media briefing.
He added that as outbound investment grew rapidly at an annual 14.1 percent last year, it won’t take long for it to surpass inbound foreign direct investment, which grew 1.7 percent last year from a year earlier.
“China is pushing forward the strategies of reviving the ancient Silk Road and the maritime Silk Road. Such efforts will certainly raise the country’s outbound investment and realize the historic transformation of China into a net investor,” Zhong said.
China is now the world’s third-largest outbound investor and its outbound investment last year totaled over US$100 billion for the first time.
Notably, more Chinese investment have flowed into the developed countries, Zhong said. In 2014, Chinese investment in the United States rose 23.9 percent, and that in the European Union more than doubled from a year earlier.
Also, the service sector overseas attracted more of the Chinese outbound investment which grew 27.1 percent last year and took up 64.6 percent of the total investment. In contrast, investment in energy fell 4.1 percent last year and made up 18.8 percent of the total.
Zhong is certain China’s inbound foreign direct investment will be stable in the future on resilient economic growth, huge market potential and improved business environment.
Ranked as the world’s second most attractive spot for foreign investment, China has seen capital in the service sector making up 55.4 percent in the overall basket, 22 percentage points higher than that in manufacturing.
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