Business
11:34, 16-Nov-2017
China's ODI drops 40.9 pct in Jan-Oct
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China's non-financial outbound direct investment (ODI) fell 40.9 percent year on year in the January-October period, data showed on Thursday, as Chinese authorities have been conducting a campaign to curb what they see as irrational investment overseas.
Chinese investors spent a total of 86.3 billion US dollars on 5,410 enterprises from 160 countries and regions during the period, the Ministry of Commerce said in a statement.
"Irrational outbound investment was further effectively contained," the statement said, while noting a slightly milder decrease of investment.
In the January-September period, ODI dropped 41.9 percent year on year.
Investment in the first 10 months mainly went to leasing and commercial services, manufacturing, wholesale and retail, and information technology sectors.
No new projects were reported in property, sport and entertainment.
China's ODI has seen rapid growth in recent years. However, noting an "irrational tendency" in outbound investment, Chinese authorities have set stricter rules and advised companies to make investment decisions more carefully since last year.
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Source(s): Xinhua News Agency