AFP, Beijing :
Chinese overseas investment surged past $100 billion for the first time last year, official figures showed Friday, but remained below investment into the country.
Overseas direct investment (ODI) rose 14.1 percent to $102.9 billion in 2014, vice commerce minister Zhong Shan said at a briefing, as Chinese firms continued to buy up assets, particularly energy and resources, to power the world’s number two economy.
Foreign direct investment (FDI) into China rose to $119.6 billion, the second consecutive increase, although that is only 1.7 percent higher, representing a marked deceleration.
Although the outbound figure did not overtake the incoming total, as some officials had expected early last year, Zhong said the long-term trend was clear.
“On current trends, China’s outward investment will continue to grow faster than its utilisation of foreign investment, which will make China a net investor in no time… making a historic turning point,” he said.
In 2013 Chinese ODI rose 16.8 percent to $90.17 billion, while FDI rebounded 5.3 percent to $117.59 billion after declining the previous year in the face of economic weakness in developed markets and a growth slowdown at home.
Both ODI and FDI exclude financial sectors.
The ministry did not provide complete country and regional breakdowns for Chinese investment destinations in 2014, other than saying-without giving totals-that investment to the European Union nearly tripled while that to the United States increased 23.9 percent.
The slowdown in FDI growth came as Chinese authorities last year launched anti-monopoly, pricing and other inquiries into foreign firms-in sectors from auto manufacturing and pharmaceuticals to baby milk-fuelling fears Beijing was targeting them. The commerce ministry has repeatedly denied the charges.
Chinese overseas investment surged past $100 billion for the first time last year, official figures showed Friday, but remained below investment into the country.
Overseas direct investment (ODI) rose 14.1 percent to $102.9 billion in 2014, vice commerce minister Zhong Shan said at a briefing, as Chinese firms continued to buy up assets, particularly energy and resources, to power the world’s number two economy.
Foreign direct investment (FDI) into China rose to $119.6 billion, the second consecutive increase, although that is only 1.7 percent higher, representing a marked deceleration.
Although the outbound figure did not overtake the incoming total, as some officials had expected early last year, Zhong said the long-term trend was clear.
“On current trends, China’s outward investment will continue to grow faster than its utilisation of foreign investment, which will make China a net investor in no time… making a historic turning point,” he said.
In 2013 Chinese ODI rose 16.8 percent to $90.17 billion, while FDI rebounded 5.3 percent to $117.59 billion after declining the previous year in the face of economic weakness in developed markets and a growth slowdown at home.
Both ODI and FDI exclude financial sectors.
The ministry did not provide complete country and regional breakdowns for Chinese investment destinations in 2014, other than saying-without giving totals-that investment to the European Union nearly tripled while that to the United States increased 23.9 percent.
The slowdown in FDI growth came as Chinese authorities last year launched anti-monopoly, pricing and other inquiries into foreign firms-in sectors from auto manufacturing and pharmaceuticals to baby milk-fuelling fears Beijing was targeting them. The commerce ministry has repeatedly denied the charges.
