Africa becomes hotspot for Chinese outbound investment: report

09:31, April 28, 2011      

Email | Print | Subscribe | Comments | Forum 

More Chinese companies are eyeing Africa as an ideal place for investment as China encourages its companies to globalize, a survey report on China's outbound investments released on Wednesday showed.

The report from the China Council for the Promotion of International Trade (CCPIT) said the number of Chinese companies investing in Africa has sharply risen, while Asia, Europe and North America remain the hottest destinations for Chinese investment.

In 2010, China invested 59 billion U.S. dollars in 129 countries and regions, the report said.

Out of all of the Chinese companies that invested abroad in 2010, 22 percent invested in Africa, the report said.

The bulk of China's overseas investments were channeled into manufacturing sectors, followed by distribution, farming, fishery and construction, according to the report.

Sixty-three percent of Chinese companies investing abroad said they will increase their overseas investments in the year to come, while only 10 percent said they will reduce their investments.

The survey was conducted by the CCPIT from December 2010 to March 2011 in order to track China's outbound investment trends from 2008 to 2010.

China's outbound direct investments stood at 8.51 billion U.S. dollars in the first quarter of this year for a 13.2 percent increase. This brought China's cumulative outbound non-financial direct investments to 267.3 billion U.S. dollars as of the end of March, official data showed earlier this month.

Source: Xinhua
BRICS Leaders Meeting 2011
Japan in aftershocks
  Weekly review  
April 20   Beijing-Shanghai high-speed rail to remove luxury seats
April 18   China undergoing shift into nation of consumers
April 18   Zhejiang checks food, raids illegal bun makers
April 19   SASS: Chinese students mentally healthier than Asian peers
April 23   The week in pictures
April 19   Build legal bulwark against moral decline
April 21   'China model' 30 years on: from home to abroad
April 21   Piano student's bloody crime heart-wrenching in China
April 18   China places firmer lid on home prices
April 19   China puts brake on economic bullet train


  • Do you have anything to say?


Special Coverage
  • BRICS Leaders' Meeting 2011
  • Focus On China
Major headlines
Editor's Pick
  • Messi leads Barcelona to rally past Real Madrid 2-0
  • Volunteers loyal to Gaddafi take part in training
  • Film 'East Meets West 2011' launched
  • Pictures catch ancient & cultural heritage of a Sichuan town
  • F-16 fighter jet crashes in Italy
  • President Hu meets with Australian PM Gillard
Most Popular
Hot Forum Dicussion