Growth in outbound direct investment dips

Updated: 2011-08-24 18:15


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BEIJING - China's outbound direct investment in non-financial sectors slowed drastically in the first seven months of the year, according to official figures released Wednesday.

Chinese companies invested $27.6 billion in non-financial sectors in 117 countries and regions in the January-July period, up 3.3 percent year-on-year, Ministry of Commerce spokesman Shen Nanyang said during a press conference.

The growth was sharply lower than the 34 percent year-on-year increase in the year's first half and the 36.3 percent annual rise in 2010.

China's outbound investment dropped substantially in July but was probably somewhat of an anomaly, an official with the ministry's press office told Xinhua on the condition of anonymity.

Shen said China's investment in the United States, Russia, Japan and members of the Association of Southeast Asian Nations and the European Union all declined in the first seven months from a year earlier, while that in Australia and Hong Kong soared.

In that period, China's overseas contracted projects brought in $51.4 billion in revenues, up 20.4 percent year-on-year, Shen said.