China's outbound investment rises 8.5% last year
Source: Agencies |
August 31, 2012, Friday
|
Print Edition
Print Edition
CHINA'S outbound direct investment rose 8.5 percent to US$74.7 billion in 2011, slowing from the year before, government data showed yesterday, but extending a decade-long expansion streak as domestic firms are officially encouraged to venture abroad.
But the annual growth in 2011 marked a sharp slowdown from the previous year's annual increase of 22 percent.
China has been urging local companies to invest abroad, which helps cut international payments surpluses and slows the build-up of foreign exchange reserves.
Chinese outbound investment grew an annual average of 45 percent between 2002 and 2011, according to figures jointly released by the Ministry of Commerce, the State Administration of Foreign Exchange and the National Bureau of Statistics.
Of the total outward capital flows, investment by non-financial companies reached US$68.6 billion in 2011, up 14 percent from a year earlier, the ministry said. That was up from the preliminary US$60.1 billion figure released in January.
In contrast, investments by financial institutions fell 29.7 percent to US$6.1 billion during the same period, as the European debt crisis exacerbated the volatility in the global financial market, official data showed.
"Compared with non-financial companies, many countries have laid some restrictions on foreign investments into their financial sector," Wang Chunking, a director of the SAFE, told a news conference.
The government is targeting a total of US$560 billion in outbound foreign direct investment in the five years to 2015.
In 2011, developing countries were the biggest recipients of China's investments, which attracted US$61.2 billion of Chinese capital and accounted for 82 percent of China's total outbound investment.
China's direct investment to Southeast Asia added 34 percent to US$5.9 billion, while that to Europe rose 27 percent to US$7.6 billion.
But the annual growth in 2011 marked a sharp slowdown from the previous year's annual increase of 22 percent.
China has been urging local companies to invest abroad, which helps cut international payments surpluses and slows the build-up of foreign exchange reserves.
Chinese outbound investment grew an annual average of 45 percent between 2002 and 2011, according to figures jointly released by the Ministry of Commerce, the State Administration of Foreign Exchange and the National Bureau of Statistics.
Of the total outward capital flows, investment by non-financial companies reached US$68.6 billion in 2011, up 14 percent from a year earlier, the ministry said. That was up from the preliminary US$60.1 billion figure released in January.
In contrast, investments by financial institutions fell 29.7 percent to US$6.1 billion during the same period, as the European debt crisis exacerbated the volatility in the global financial market, official data showed.
"Compared with non-financial companies, many countries have laid some restrictions on foreign investments into their financial sector," Wang Chunking, a director of the SAFE, told a news conference.
The government is targeting a total of US$560 billion in outbound foreign direct investment in the five years to 2015.
In 2011, developing countries were the biggest recipients of China's investments, which attracted US$61.2 billion of Chinese capital and accounted for 82 percent of China's total outbound investment.
China's direct investment to Southeast Asia added 34 percent to US$5.9 billion, while that to Europe rose 27 percent to US$7.6 billion.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
