Shanghai tops as outbound investor
Print Edition
SHANGHAI investors led those from other Chinese cities in overseas acquisitions and investment in the first three quarters of this year, China’s Ministry of Commerce said yesterday.
China’s non-financial outbound direct investment grew 16.5 percent from a year earlier to US$87.3 billion in the first nine months, the ministry said. The increase came following a decline of 5 percent in the first half of this year.
Shanghai’s outbound direct investment hit US$11.9 billion in the January-September period, or 5.4 times the figure a year earlier. The investment lifted the city to become the top outbound investor among all cities in China, helped by the reform policies conducted in the pilot free trade zone, the ministry said. Chinese companies registered in the FTZ invested US$4.5 billion overseas during the period, or 37.8 percent of Shanghai’s total.
In 2014, Chinese investment in foreign countries added 16.8 percent, boosting the country as the world’s third-largest outbound investor.
“Chinese investors were very active these days, and they increasingly take to acquiring other firms,” officials with the ministry’s outbound investment department said.
In the first three quarters, Chinese companies were involved in 324 cases of overseas acquisitions valued at US$20.2 billion in 50 countries and regions. The transactions, accounting for nearly a quarter of China’s outbound direct investment, covered manufacturing, information technology, business services, construction and retail.
Major acquisitions included the US$1.8 billion takeover of Bermuda-registered Sirius Insurance Group by China Minsheng Investment Co, and CITIC Environment Investment Group Co’s US$730 million purchase of 54.9 percent of Singapore-listed United Envirotech Ltd.
In the first nine months, outbound investments by non-state firms surged 38.2 percent year on year, taking up 67 percent of the total value.
Chinese investments in the 48 countries involved in the “Belt and Road” initiative totaled US$12 billion, up 66.2 percent year on year.
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