China's ODI surges 25.8% in first 10 months

BEIJING, Nov. 20 (Xinhua) -- China's outbound direct investment (ODI) in non-financial sectors surged 25.8 percent year on year to 58.17 billion U.S. dollars during the first 10 months of 2012, according to figures released by the Ministry of Commerce (MOC) on Tuesday.

The increase was slower than the 28.9-percent expansion seen in the January-September period, as the country's economy slowed due to flagging property investment and exports, MOC spokesman Shen Danyang told a regular press conference.

The Chinese mainland's investment in Hong Kong rose by a stunning 42.6 percent during the first 10 months, while the member countries of the Association of Southeast Asian Nations, the United States, Russia and Japan also saw double-digit growth in ODI from China.

However, China's ODI in the European Union fell 20.9 percent year on year to 1.58 billion U.S. dollars during the January-October period. The country's investment in Australia also dropped 28.7 percent to 1.36 billion U.S. dollars, Shen said.

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