Overseas investment hits $33 bln in first three quarters

It is reported from the China's Overseas Investment and Cooperation Conference on Nov. 3, that Chinese overseas investment is 33 billion U.S. dollars in the first three quarters, up 1% compared to last year during the economic downturn.

Overseas investment has changed from trading services and small-scale business to manufacture, infrastructure and high-tech fields like resources exploration, electrical facilities development and garment. Commercial service industry accounts for 29.7% of total investment, while financial related areas account for 19.9%. State owned companies continue to dominate, but its proportion is declining. Personal business and other forms of business increased steadily. In addition to traditional “Green Investment”, merger and acquisitions are making the investment more flexible.

Statistics show that from 2002 to 2008, Chinese annual overseas investment increased from 2.7 billion U.S. dollars to 56 billion U.S. dollars, with an average annual 66% growth rate. By the end of 2008, the total investment reached 184 billion U.S. dollars while total assets reached over 1 trillion U.S. dollars.

By People's Daily Online