Outbound investments exceed inbound funds
By Hu Xiaocen |
June 14, 2013, Friday
|
Print Edition
Print Edition
CHINA'S financial institutions attracted US$1.67 billion in foreign equity investments in the first three months, up from US$620 million in the same period a year ago, according to data from the foreign exchange watchdog.
Meanwhile, Chinese banking, securities and insurance companies made a total of US$2.41 billion in net outbound equity investments in the first quarter, a jump of 55 percent annually, the State Administration of Foreign Exchange said on its website yesterday.
Last year Chinese financial institutions attracted US$81.2 billion in foreign equity investments, and invested US$77.8 billion in outbound equities.
The financial companies, especially lenders, are forced to expand overseas as the more liberal domestic financial market fuels fiercer competition that erodes margins.
Meanwhile, Chinese banking, securities and insurance companies made a total of US$2.41 billion in net outbound equity investments in the first quarter, a jump of 55 percent annually, the State Administration of Foreign Exchange said on its website yesterday.
Last year Chinese financial institutions attracted US$81.2 billion in foreign equity investments, and invested US$77.8 billion in outbound equities.
The financial companies, especially lenders, are forced to expand overseas as the more liberal domestic financial market fuels fiercer competition that erodes margins.
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