China’s March outbound direct investment slumps 30.1pc to US$7.11b
Curbs on capital outflow weigh down overseas investment
China’s non-financial outbound direct investment (ODI) slumped 30.1 per cent in March from a year earlier as authorities kept a tight grip on capital outflows to help support the yuan and safeguard the country’s foreign exchange reserves.
Non-financial ODI totalled US$7.11 billion last month, Commerce Ministry data showed on Tuesday.
For the first three months of this year, non-financial ODI tumbled 48.8 per cent to US$20.54 billion from the same period last year.
Outbound investment in countries involved in China’s “One Belt, One Road” infrastructure initiative was US$2.95 billion in the first quarter, or 14.4 per cent of the total, the ministry said.
Non-financial ODI tumbled 52.8 per cent in January-February from the same period last year, with amounts in the property and entertainment sectors down more than 80 per cent.