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China's outbound investment drops by 60% in H1

(Xinhua)
Updated: 2009-10-16 12:00

China's overseas direct investment (ODI) totalled $13.3 billion in the first half year, down 60 percent from a year earlier, said a report issued by the State Administration of Foreign Exchange Thursday.

Outbound investment from China's financial and non-financial sectors both fell in the first half of 2009, with ODI from the non-financial sector declining by 51 percent to $12.5 billion, and financial ODI dropping by 76 percent to $2 billion, according to the report.

It also said that the non-financial ODI went to, from the most to the least, Asia, Europe, America, Africa and Oceania while the financial ODI was mainly channeled into well-developed financial markets like Hong Kong, Britain and the US.

Related readings:  China urges foreign nations 'open' to overseas investment  State firms increase overseas investment  China promises further opportunities for overseas investment  Time for investment overseas

Manufacturing, housing, scientific research, technical services, geological prospecting and mining were the key areas that non-financial ODI was interested in, receiving 60 percent of the non-financial investment in the first half of this year.

China's foreign direct investment slipped by 40 percent year-on-year in the first half to $48 billion, said the report.