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Friday, August 14, 2015, 12:53

China's outbound direct investment soars

By Xinhua

BEIJING - China's outbound direct investment (ODI) surged 20.8 percent to US$63.5 billion in the first seven months of this year, an official with the Ministry of Commerce said Friday.

Last month, the ministry reported that China's ODI had increased sharply in the first half of 2015.

China's non-financial ODI grew 29.2 percent in the first six months to US$56 billion, Zhang Xiangchen, deputy international trade representative with MOC had reported.

"We are very confident that China will accomplish or probably outperform the annual target of 10 percent ODI growth," said Zhang last month.

Last month, ODI in manufacturing jumped 63.1 percent to US$5.09 billion.

China revised an ODI regulation last October, streamlining procedures and allowing domestic enterprises to invest in more sectors abroad.

China became a net capital exporter for the first time last year when ODI outnumbered foreign direct investment (FDI). ODI grew 14.1 percent in 2014, sharply eclipsing the 1.7 percent FDI growth.

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