Total outward direct investment (ODI) by the mainland surged to US$21.16 billion last year, to reach almost a third of foreign investment inflows as the central government encouraged companies to secure resources and establish competitive positions in the global marketplace.
Investment in non-financial sectors overseas increased 43.8 per cent to US$17.63 billion, accounting for 83.3 per cent of total mainland ODI last year, according to a joint report released yesterday by the Ministry of Commerce, the National Statistics Bureau and the State Administration of Foreign Exchange.
The growth rate for investment by financial firms, which came to US$3.53 billion last year, was not disclosed. It is the first time the government departments have included financial sector ODI in the annual report.
The government is encouraging companies to accelerate investment overseas as the country's foreign reserves, already the world's largest, surged to US$1.33 trillion at the end of June.
At present the country ranks 13th in ODI.
People's Bank of China governor Zhou Xiaochuan said on September 8 that the bank would adjust financial policies to fund domestic companies and financial institutions' outbound investments and increase foreign-exchange outflows.