News

China becomes world’s second biggest provider of direct investment

The mainland has overtaken Japan to become the second biggest source of outbound direct investment (ODI) in the world, according to official data.

According to a report issued by the Chinese Ministry of Commerce, the National Bureau of Statistics and the State Administration of Foreign Exchange on Thursday, China’s ODI, including both financial and non-financial sectors, jumped 18.3 percent year-on-year to a record high of US$145.67 billion last year.

It was the 13th consecutive year of growth in Chinese ODI, the Reuters news agency reports.

China is now also a net exporter of capital, with ODI surpassing foreign direct investment for the first time, says Commerce Ministry Deputy China International Trade Representative Zhang Xiangchen.