Wed, Dec 19, 2012 - Page 15 News List

China gloomy on foreign trade for 2013

AGITATION:Trade friction between China and its major trade partners intensified this year, with 53 trade probes worth US$24.2 billion running against the country

AFP, BEIJING and SHANGHAI

In contrast, China’s investment abroad has surged sharply this year after slowing last year owing to a weak global economic recovery and financial turmoil in Europe and the US.

Outbound direct investment in non-financial sectors in the first 11 months of the year totaled US$62.5 billion, up 25 percent from the same period last year, Shen said.

Last year, the figure stood at US$60.1 billion, up just 1.8 percent year on year, previous official data showed.

China has set goals to increase overseas direct investment at an average annual rate of 17 percent through 2015 to US$150 billion by then.

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