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China's non-financial ODI enters 'fast lane'

Updated: 2013-01-17 10:53
By Li Jiabao ( China Daily)

China's non-financial outbound direct investment continued to surge in 2012, and has now moved into the "fast lane" internationally, according to senior economic officials.

Figures released on Wednesday by the Ministry of Commerce showed that China's non-financial ODI in 2012 increased 28.6 percent from a year earlier to $77.22 billion.

Zhang Xiaoji, director-general of the foreign economic relations department at the Development Research Center of the State Council, said he expects Chinese enterprises will continue what he called "robust investment in overseas markets" in 2013.

China's non-financial ODI enters 'fast lane'

"Actually, China's ODI has just moved into the fast lane," he said.

"As domestic enterprises continue to use global resources, and seek more opportunities in overseas markets, that momentum will continue into the future, as long as supportive policies are not changed."

Statistics released by the Ministry of Commerce, the National Bureau of Statistics and the State Administration of Foreign Exchange showed that non-financial ODI in 2011 was worth $68.58 billion, up 14 percent year-on-year.

That figure had been revised up from a preliminary $60.07 billion.

Li Xunlei, deputy CEO and chief economist of Haitong Securities Co Ltd in Shanghai, said he estimated China's non-financial ODI will increase 30 percent in 2013.

"The amount of China's non-financial ODI is still small compared with the country's economic size.

"In addition, the currency still has room for further appreciation while prices of overseas assets in debt-troubled economies are attractive," Li added.

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