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Monday, November 16, 2015, 16:43

China outbound direct investment surges

By Xinhua

BEIJING - The Chinese mainland made around 589.2 billion yuan (about US$95.21 billion) in non-financial investment in overseas markets in the first ten months of 2015, up 16.3 percent year on year, the latest data showed on Monday.

Outbound direct investment (ODI) in the period covered 5,553 overseas-based companies in 152 countries and regions, the Ministry of Commerce (MOC) said.

The number of foreign-contracted projects worth more than US$100 million increased to 307, up by 39 from last year, with the total contract amount reaching US$108.3 billion in the Jan-Oct period, said Jiang Wenbin, deputy head of the MOC Department of Outward Investment and Economic Cooperation.

The projects covered a wide range of fields including transportation, housing construction, electric power engineering, telecommunication and petrochemical industries, Jiang said.

During the period, Chinese investors spent around US$9.94 billion in developing manufacturing industries in overseas markets, up 82.8 percent year on year, the data showed.

The manufacturing investment mainly went to automobiles, medicine, computers, communication devices, rubber and plastic products, Jiang said.

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