Chinese firms鈥 ODI rises 55% to US$40.4b
Print Edition
CHINESE companies continued to invest big in overseas markets in the first quarter of the year, new official data showed.
China’s non-financial outbound direct investment jumped 55.4 percent from a year ago to 261.74 billion yuan (US$40.4 billion) in the first three months, the Ministry of Commerce said yesterday.
Hong Kong drew the most investment from the Chinese mainland, accounting for 51.6 percent of the total, while investment to the United States more than doubled to US$5.24 billion. ASEAN received US$2.29 billion of investment, up 44 percent year on year.
Some US$5.4 billion were invested in manufacturing in the quarter, up 125.9 percent, with nearly half of that channeled to equipment manufacturing.
Chinese firms spent US$16.56 billion on overseas acquisitions, covering 15 industries and 36 countries and regions.
The ministry said the Belt and Road initiative was a major push to business cooperation between Chinese and foreign firms. ODI to countries in the initiative totaled US$3.59 billion, up 40.2 percent year on year.
ODI in March rose 21.5 percent year on year to 66.4 billion yuan.
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