Chinese overseas investment surged past US$100 billion for the first time last year, official figures showed yesterday, but remained below investment into the country.
Overseas direct investment (ODI) rose 14.1 percent to US$102.9 billion last year, Chinese Vice Commerce Minister Zhong Shan (鍾山) said at a briefing, as Chinese firms continued to buy up assets, particularly energy and resources, to power the world’s No. 2 economy.
Foreign direct investment (FDI) into China rose to US$119.6 billion, the second consecutive increase, although that is only 1.7 percent higher, representing a marked deceleration.
Photo: Reuters
Although the outbound figure did not overtake the incoming total, as some officials had expected early last year, Zhong said the long-term trend was clear.
“On current trends, China’s outward investment will continue to grow faster than its utilization of foreign investment, which will make China a net investor in no time ... making a historic turning point,” he said.
In 2013, Chinese ODI rose 16.8 percent to US$90.17 billion, while FDI rebounded 5.3 percent to US$117.59 billion after declining the previous year in the face of economic weakness in developed markets and a growth slowdown at home.
Both ODI and FDI exclude financial sectors.
The ministry did not provide complete country and regional breakdowns for Chinese investment destinations last year, other than saying — without giving totals — that investment to the EU nearly tripled, while that to the US increased 23.9 percent.
Meanwhile, investment from the 28-member EU fell 5.3 percent to US$6.85 billion last year, the ministry said, while investment from the 10-member ASEAN declined 23.8 percent to US$6.51 billion.
Investment from the US also declined 20.6 percent to US$2.66 billion.
However, South Korean investment into China jumped 29.8 percent to US$3.97 billion, while that from Britain rose 28 percent to US$1.35 billion.
Investment from Japan, meanwhile, slid 38.8 percent to US$4.33 billion as geopolitical tensions between the region’s top two economies continue.
The ministry did not immediately provide figures for FDI from Hong Kong and Taiwan, two of the largest inbound investors.
For last month, inward investment increased 10.3 percent to US$13.3 billion, the ministry said.
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