China's outbound investment drops by 60% in first half

21:58, October 15, 2009      

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China's overseas direct investment (ODI) totalled 13.3 billion U.S. dollars in the first half year, down 60 percent from a year earlier, said a report issued by the State Administration of Foreign Exchange (SAFE) Thursday.

Outbound investment from China's financial and non-financial sectors both fell in the first half of 2009, with ODI from the non-financial sector declining by 51 percent to 12.5 billion dollars, and financial ODI dropping by 76 percent to 2 billion dollars, according to the report.

It also said that the non-financial ODI went to, from the most to the least, Asia, Europe, America, Africa and Oceania while the financial ODI was mainly channeled into well-developed financial markets like Hong Kong, Britain and the U.S.

Manufacturing, housing, scientific research, technical services, geological prospecting and mining were the key areas that non-financial ODI was interested in, receiving 60 percent of the non-financial investment in the first half of this year.

China's foreign direct investment (FDI) slipped by 40 percent year on year in the first half to 48 billion dollars, said the report.

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