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Thursday, April 14, 2016, 21:13

China Q1 non-financial ODI jumps 55.4%

By Xinhua

BEIJING - Chinese companies continued to invest big in the overseas market in the first quarter (Q1) of the year, new official data shows.

China's non-financial outbound direct investment (ODI) jumped 55.4 percent from a year ago to 261.74 billion yuan (US$40.34 billion) in Q1, the Ministry of Commerce said Thursday.

Hong Kong attracted 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 a total of US$2.29 billion of investment, up 44 percent year on year.

Some US$5.4 billion was invested in manufacturing in Q1, up 125.9 percent, 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 involved in the initiative was US$3.59 billion, an increase of 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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