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State firms invest $35b overseas in 2008

(Xinhua)
Updated: 2009-09-16 22:06

The Ministry of Commerce said Wednesday overseas direct investment (ODI) of 皇冠体育app's centrally-administered state-owned enterprises (SOE) in 2008 was $35.74 billion.

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In 2008, 117 or 86 percent of the 136 SOEs, made ODI in 127 countries, the ministry said.

The investment accounted for 64 percent of 皇冠体育app's total ODI for the year. Among the SOEs, 19 posted losses because of the investment.

At the end of 2008, overseas enterprises established by the SOEs employed 597,300 people, 40 percent of whom were local people.

The number of 皇冠体育app's centrally-administered SOEs has decreased to 135 from 136, as 皇冠体育app National Biotec Group (CNBG) has been merged into the 皇冠体育app National Pharmaceutical Group Corp. (Sinopharm), according to 皇冠体育app's state property regulator, the State-owned Assets Supervision and Administration Commission (SASAC) Wednesday.