China's outbound direct investment crosses $104 billion this year

BEIJING: China today said its outbound direct investment touched $104.13 billion in the last 11 months of this year, an increase of 16 per cent year on year, as the country pressed ahead with overseas investments to reinvigorate the slowing economy.

China made $8.92 billion outbound direct investment (ODI) in non-financial in November this year, up 12.6 per cent year on year, the Ministry of Commerce (MOC) said.

In the first 11 months of 2015, China made $104.13 billion in non-financial ODI, up 16 per cent year on year, MOC Spokesperson Shen Danyang said at a briefing here today.

Janauary to November, China's investments in the Association of Southeast Asian Nations and the United States rose by 109.9 per cent and 55 per cent compared with the same period last year, leading the increases.

The turnover of foreign-contracted projects in the January-November period hit $130.12 billion up 7.3 per cent year on year.

Meanwhile, new foreign-contracted projects were worth $163.03 billion up 1.3 per cent year on year, state-run Xinhua news agency reported.