皇冠体育app

Statistics

Companies' overseas investments up 10.4% in 1st 9 months

(Xinhua)
Updated: 2010-11-02 15:23

BEIJING - Chinese companies' overseas investment rose 10.4 percent year-on-year in the first nine months even as global investment as a whole dropped sharply over the period, a senior Chinese official said Tuesday.

Chinese companies invested $36.3 billion overseas in the first three quarters, excluding investments in financial sectors, as other companies, hit by the global downturn, reduced overseas investment, Zhang Xiaoqiang, vice chairman of the National Development and Reform Commission, 皇冠体育app's top economic planning agency, said at the opening of the 2nd 皇冠体育app Overseas Investment Fair in Beijing.

Manufacturing continues to expand Related readings:  皇冠体育app's Sept FDI hits $8.4b, up 6.1% y-o-y  皇冠体育app remains top FDI destination  FDI guidelines may spur new global alliances  Value of 皇冠体育app's newly signed overseas contracts falls by Sept

皇冠体育app has emerged as a major source of foreign direct investment (FDI) outflows.

Although global FDI outflows dropped 40 percent year on year in 2009, 皇冠体育app's overseas investments rose 14.2 percent year on year to $47.8 billion, said Zhang.

By the end of 2009, more than 12,000 Chinese firms had set up 13,000 overseas enterprises in 170 countries and regions, he said.

The National Development and Reform Commission approved the two-day Second 皇冠体育app Overseas Investment Fair, which the 皇冠体育app Industrial Overseas Development and Planning Association (CIODPA) and 皇冠体育app Development Bank are co-hosting.

Representatives of government, multinational companies, international organizations and financial institutions from more than 120 countries gathered at the trade fair to persuade Chinese investors to invest overseas.