China outward investment loses momentum
November 24, 2014 Category Foreign investment, Weekly
Chinese companies invested less overseas last month than in October last year, reversing sharp year-on-year rises seen earlier this year, due to a high comparison base with the same month last year, when Beijing and Moscow signed major energy deals. Outward direct investment (ODI) by non-financial companies fell 12.2% year-on-year last month to USD6.9 billion, while such investment rose 17.8% in the first 10 months of the year. Investment surged 90.5% in September after more than doubling in August. Investment in Russia had slumped 78.8% in the first 10 months of the year, Ministry of Commerce Spokesman Shen Danyang said in Beijing, because it was “affected by major projects made in October last year”. Investment in the European Union soared 192.6% in the first 10 months, while that in Japan climbed 128.6%. Investment in Hong Kong grew 22%.
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