China's non-financial sector outbound investment declines

Updated 2017-10-18 09:17:54 China Daily

China's outbound direct investment from non-financial sectors dropped 41.9 percent year-on-year to .03 billion between January and September, the Ministry of Commerce announced on Tuesday.

The drop in the country's ODI during this period narrowed 3.9 percentage points from the first half of this year, indicating that China kept deploying more investment in manufacturing and modern service-related businesses in global markets.

Investment in leasing and commercial services, manufacturing, and retail and information-related businesses took 32 percent, 17.3 percent, 12.2 percent and 10.5 percent of the country's total ODI, respectively, during the nine-month period, said the ministry.

Companies from China invested in 5,159 companies in 154 countries and regions from January to September and signed 8.2 billion in new contracts for overseas projects, a rise of 13.8 percent year-on-year.

The ministry said China would continue to tighten its review of the authenticity of overseas investment and its compliance with regulations, and guide more investment into the real economy and reduce investment in sectors in which Chinese companies are not proficient at managing.

Meanwhile, outbound investment in 57 economies related to the Belt and Road Initiative stood at .6 billion, accounting for 12.3 percent of total ODI, up 4 percentage points year-on-year.

China's ODI in Cambodia, Laos, Malaysia and Russia jumped 82.9 percent, 68.8 percent, 68.2 percent and 34.1 percent year-on-year, respectively, during the first three quarters of this year.

Commerce Ministry Spokesman Gao Feng said late last month the government would encourage ODI activities that can assist the development of the Belt and Road Initiative and resolve overcapacity issues in global markets.

"The infrastructure development involved in the initiative will require a high degree of coordination between and among states, the private sector and civil society, as well as vast investments of capital and material resources," said Zhang Yansheng, deputy director of the expert committee of the China Council for the Promotion of International Trade.

"Therefore it is necessary for governments and companies engaged in the initiative to have a clear understanding of the key factors in driving success."

Meanwhile, foreign direct investment in China rose 1.6 percent year-on-year between January and September to 618.57 billion yuan (.47 billion), the Ministry of Commerce announced last Friday.

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