Chinese enterprises hired some 1.5 million foreigners overseas in 2016 amid their rapid global expansion, China's commerce minister said Saturday.[Special Coverage]
Overseas Chinese enterprises recorded 1.5 trillion U.S. dollars in sales volume last year, bringing 40 billion U.S. dollars of taxes to host countries, Commerce Minister Zhong Shan told a press conference on the sidelines of the annual parliamentary session.
China has always encouraged its enterprises to "go out," the minister said, noting there are some "blind and irrational" outbound investments that require enhanced government regulation.
China's outbound direct investment (ODI) has grown quickly in recent years, with non-financial ODI soaring 44.1 percent to 170 billion U.S. dollars in 2016, official data showed.