China’s ODI down 41.8 percent Jan-Aug

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China's non-financial outbound direct investment (ODI) dropped 41.8 percent year on year to 68.72 billion US dollars in the first eight months of 2017, official data showed on Thursday.

Chinese companies made the outbound investment in more than 4,789 overseas enterprises of 152 countries and regions from January to August, according to the Ministry of Commerce.

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The plunge narrowed 2.5 percent from the January-July period, and the ODI structure continued to improve, according to ministry spokesman Gao Feng.

The investment mainly went to the leasing and commercial services, manufacturing, wholesale and retail, and information technology sectors.

As the government moved to curb irrational investment, there were no new investment projects in real estate, sports and the entertainment sectors, Gao said.

Since late 2016, the ministry has cooperated with other departments to reinforce inspections into the authenticity and regulation compliance of outbound investment to optimize investment structure.

Outbound investment to countries involved in the Belt and Road Initiative stood at 8.55 billion dollars, accounting for 12.4 percent of the total ODI, up 4.3 percentage points from the same period of 2016.

Source(s): Xinhua News Agency