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China's ODI surges 25.8% Jan.-Oct.

2012-11-20 13:01 Xinhua     Web Editor: Gu Liping comment

China's outbound direct investment (ODI) in non-financial sectors surged 25.8 percent year on year to 58.17 billion U.S. dollars during the first 10 months of 2012, according to figures released by the Ministry of Commerce (MOC) on Tuesday.

The increase was slower than the 28.9-percent expansion seen in the January-September period, as the country's economy slowed due to flagging property investment and exports, MOC spokesman Shen Danyang told a regular press conference.

Domestic investors have pumped money into 3,254 overseas companies in 126 countries and regions during the period, Shen said.

The Chinese mainland's investment in Hong Kong rose by a stunning 42.6 percent during the first 10 months.

The member countries of the Association of Southeast Asian Nations, the United States, Russia and Japan also saw double-digit growth in ODI from China, with growth rates standing at 31.2 percent, 16 percent, 31.9 percent and 15.2 percent, respectively.

However, China's ODI in the European Union fell 20.9 percent year on year to 1.58 billion U.S. dollars during the January-October period. The country's investment in Australia also dropped 28.7 percent to 1.36 billion U.S. dollars, Shen said.

The accomplished turnover of China's overseas-contracted projects climbed 14.4 percent year on year to 87.06 billion U.S. dollars in the first 10 months, accelerating from the 14-percent growth in the first nine months, according to Shen.

Data also showed that China sent 353,000 workers abroad January-October, down 3,000 from one year earlier.

At the end of October, 880,000 Chinese people worked in foreign countries, an increase of 66,000 year on year, the MOC's spokesman added.

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