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Wan LixinOpinion deputy editor of Shanghai Daily
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China’s services trade and ODI shine
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CHINA’S non-financial outbound direct investment and services trade have emerged as shining spots in otherwise lackluster foreign trade figures.
China’s ODI soared to 673.24 billion yuan (US$102.75 billion) from January to July, a 61.8 percent year-on-year increase, said Shen Danyang, spokesperson of the Ministry of Commerce, at a press conference yesterday.
July’s ODI reached 91.01 billion yuan, down 9.5 percent month on month, according to the ministry.
During the first seven months of the year, China’s ODI surpassed its foreign direct investment, meaning it was a net capital exporter, Shen said.
During the same period, China’s FDI rose 4.3 percent year on year to 491.51 billion yuan, according to the ministry’s data.
US, Germany popular
The United States and Germany were among the most popular investment destinations for Chinese companies. During the seven-month period, ODI in both countries more than doubled from a year earlier.
Large overseas mergers and acquisitions contributed to the ODI growth. From January to July, China’s overseas M&As totaled US$54.3 billion, accounting for more than half of the total ODI.
The M&A value in the first seven months of 2016 surpassed the volume registered for the whole of 2015. From January to July, there were M&As by Chinese enterprises in 63 countries and regions, covering 15 sectors including information transmission, services, software and manufacturing.
By the end of July, China’s accumulated investment under the Belt and Road Initiative hit US$51.1 billion, taking up 12 percent of the country’s total ODI.
Launched in late 2013, the Belt and Road Initiative is an umbrella term for the Silk Road Economic Belt and the 21st Century Maritime Silk Road. It will be a trade and infrastructure network connecting Asia with Europe and Africa, along ancient trade routes.
The ministry also revealed at the press conference that China’s services trade totaled 2.53 trillion yuan during the first half year, up 21.5 percent year on year.
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