China's ODI tops target
December 25, 2010, Saturday
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Print Edition
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CHINA'S outbound overseas direct investment to non-financial sectors totaled US$216.6 billion in the 2006-2010 period, exceeding the government's target 3.6 times, Minister of Commerce Chen Deming said yesterday.
Outbound ODI grew an annual 39 percent on average during the period, putting China in fifth place globally, up from 18th spot at the end of its 10th Five-year Plan period between 2001 and 2005, Chen said.
Enterprises in the provinces of Guangdong, Jiangsu, Zhejiang and Shandong were open to gaining technology, branding and marketing through mergers and acquisitions in the 2006-2010 period, Chen said.
He said the ministry will introduce more measures, including working with relevant departments to promote the building of overseas business cooperation zones, to enlarge the scale of working together in 2011.
The ministry's figures show that ODI into non-financial sectors rose 10 percent year on year to US$47.56 billion in the first 11 months of this year.
Of the total, ODI for acquisitions accounted for US$17.5 billion, or 36.8 percent.
Outbound ODI grew an annual 39 percent on average during the period, putting China in fifth place globally, up from 18th spot at the end of its 10th Five-year Plan period between 2001 and 2005, Chen said.
Enterprises in the provinces of Guangdong, Jiangsu, Zhejiang and Shandong were open to gaining technology, branding and marketing through mergers and acquisitions in the 2006-2010 period, Chen said.
He said the ministry will introduce more measures, including working with relevant departments to promote the building of overseas business cooperation zones, to enlarge the scale of working together in 2011.
The ministry's figures show that ODI into non-financial sectors rose 10 percent year on year to US$47.56 billion in the first 11 months of this year.
Of the total, ODI for acquisitions accounted for US$17.5 billion, or 36.8 percent.
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