Latest News:  


Rising trend of overseas investment 'to continue'

By Ding Qingfen (China Daily)

08:10, March 05, 2013

Global investment by Chinese companies will grow rapidly "for quite a long time", Chen Jian, vice-minister of commerce, said on Monday.

At the same time, he said, Chinese companies need to standardize and improve their operations overseas.

"Chinese enterprises have been seizing the opportunity of investing abroad since the financial crisis erupted (in 2008)," Chen, also a member of the 12th National Committee of the Chinese People's Political Consultative Conference, said at the sidelines of the annual session of the top advisory body.

Despite a worldwide drop in foreign direct investment since the outbreak of the global crisis, China's overseas direct investment has increased.

Last year, the world's second-largest economy saw its ODI rise about 30 percent to $77.2 billion.

"We have confidence that such growth momentum can be sustained over the long term. We expect a double-digit increase this year, probably as high as last year," Chen said.

Late last month, China National Offshore Oil Corp completed its acquisition of Canadian oil and gas company Nexen for $15.1 billion, China's largest overseas deal.

As part of the 12th Five-Year Plan (2011-15), the government encourages companies to expand abroad, through mergers and acquisitions, especially in manufacturing, services and energy. China aims to let its ODI match the amount of foreign direct investment into the country by the end of 2015.

"The integration between China and the world strengthens", which makes it possible for Chinese outbound investment to grow into a "key part of the nation's economy", Chen said.

"The slowing world economy needs Chinese investment, and as a global manufacturing powerhouse, China needs to transfer its technology and manufacturing capacity to other nations," he said.

Last year, 60.2 percent of the Chinese mainland's ODI went to Hong Kong, 5.7 percent to Southeast Asia and 5.4 percent to the European Union. The three destinations were the top recipients.

But some countries, especially the United States, have placed restrictions on Chinese investment. A report from global business analysts the Rhodium Group in New York said European countries extended a warmer welcome to Chinese investment than their US counterparts, although Chinese investment has been rising rapidly in both the US and the European Union.

In a case that reflects rising US protectionism, a report in October by two members of the US House of Representatives Intelligence Committee argued that Chinese telecom equipment makers, Huawei Technologies and ZTE Corp, pose a potential security threat to the US.

"There are restrictions in some nations and regions, but it's not a big issue as Chinese investment is welcomed in many, many nations," Chen said.

【1】 【2】

We recommend:

IKEA: Meatballs in China supplied by Fujian factory

Jet-set life takes off for country's super-rich

Taking a bite out of the market for snakes

Ratings agency warns about rising debt

Holiday firework sales fail to boom

4G network to lead the world

Email|Print|Comments(Editor:LiangJun、Li Zhenyu)

Leave your comment0 comments

  1. Name


Selections for you

  1. Aviation regiment of South Sea Fleet conducts flight training

  2. Operation conducted to expel drug traffickers

  3. Photos of the week (Feb. 24 - March 3)

  4. Quake hits China's Yunnan, 30 injured

  5. Beautiful journalist reporting CPPCC

  6. Two sessions: Journalists on mission

  7. Happy Boy Jaki Tan Jiexi

  8. Luoyang: Resting place of tranquility

  9. China's jumbo jet C919 expected to fly 2014

  10. China builds on border trade

Most Popular


  1. Spoiled brats spring from pampering parents
  2. A smile can succeed where a scowl fails
  3. Reducing income inequality an urgent task
  4. Why media turns attention to 'two sessions'
  5. New glories for China in striving for nat'l renewal
  6. Home is where the heart is
  7. Are US, N. Korea playing 'basketball diplomacy'?
  8. Who will attend China's upcoming 'two sessions'?
  9. CPC adopts list of state leadership candidates
  10. Quality vocational education

What’s happening in China

The millionaire philanthropist promotes 'Clean Plate Campaign' at CPPCC session.

  1. Explosion injures over 20 in Shenyang | Pictures
  2. Wellington College Shanghai to open soon
  3. China increases nat'l basic education funds
  4. Gold speculation scams on the rise
  5. HK sets baby formula limits