China鈥檚 outbound investment to beat FDI
Print Edition
CHINA’S outbound direct investment is seen to grow by at least 10 percent annually in the next five years, a senior official with the Ministry of Commerce said yesterday.
“China is likely to see its outbound investment outweigh the inbound foreign investment for the first time this year, or possibly within just a few years,” Zhang Xiangchen, assistant commerce minister, said in Beijing. “It is only a matter of time for China to become a net investor.”
In the first three quarters, China’s outbound direct investment grew 21.6 percent from the same period a year earlier to US$74.9 billion, while inbound foreign direct investment to the country fell 1.4 percent to US$87.3 billion.
In 2002, China’s outbound direct investment was only US$2.7 billion before swelling to US$107.8 billion last year, ranking it the world’s third-largest investor.
Around 25,000 Chinese-funded companies are now operating in foreign countries, managing assets above US$3 trillion.
China’s outbound investment has also diversified. Zhang said funds flowing into the overseas energy sector took up 23 percent of existing projects, and 16.7 percent of all investments to date.
To better serve Chinese companies’ “going global” strategy, the Ministry of Commerce released a new regulation about China’s outbound investment which took effect earlier this month.
The rule adopts the principle of a negative list which makes it mandatory for only military and high-technology companies or those which want to invest in countries with no diplomatic ties with China to get the ministry’s nod.
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