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Investing overseas delivers dividends

(China Daily)

14:41, November 09, 2011

BEIJING, Nov. 9 (Xinhuanet) -- China's overseas investment has increased rapidly, despite the global economic outlook, helping recipient countries tackle unemployment.

Outbound investment for 2010 was $67.8 billion, up 21.7 percent from 2009, according to the State Administration of Foreign Exchange.

More than $300 billion was invested abroad by 2010, the fifth-largest foreign investment in the world, said Li Jiping, vice-president of China Development Bank, the leading financier of overseas investment.

Zhang Xiaoqiang, vice-minister of the National Development and Reform Commission, said rules are being drafted to regulate companies' foreign investment.

Financial support will be increased, and insurance firms will be more involved, to encourage companies to invest abroad, he said.

"While Chinese enterprises develop by investing in the international market, they also fulfill their social responsibilities and benefit local people, " Zhang said.

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