Arab Today, arab today china outbound investment nears 120bn in 2015
Last Updated : GMT 21:34:07
Arab Today, arab today
Arab Today, arab today

China outbound investment nears $120bn in 2015

Arab Today, arab today

Arab Today, arab today China outbound investment nears $120bn in 2015

China outbound investment nears $120 bln
Beijing - AFP

Chinese overseas direct investment (ODI) rose to nearly $120 billion last year, official data showed Wednesday, as the world's second-largest economy sought to acquire foreign technologies, expand markets and diversify energy supply.

ODI leapt 14.7 percent from a year earlier to $118.0 billion in 2015, just ahead of the previous year's expansion, according to the commerce ministry.

It remained below inward foreign direct investment (FDI) of $126.3 billion, so the world's second-largest economy remained a net importer of capital. Both ODI and FDI exclude financial sectors.

Outbound investment in the 10-member ASEAN group of Southeast Asian nations jumped 60.7 percent and was up a similar 60.1 percent to the US, the ministry said in a statement, without providing totals.

The biggest individual acquisition was state-owned ChemChina's purchase of emblematic Italian tyremaker Pirelli, ministry spokesman Shen Danyang told reporters.

Chinese firms' takeovers were "large in value and broad in terms of industries and countries involved", he said, adding they remained active in the field despite a sluggish global economy.

Beijing encourages Chinese firms to expand overseas under a so-called "go abroad" strategy as the country faces multiple development bottlenecks.

Among these are manufacturing overcapacity, insufficient domestic demand and increasing energy and resources consumption.

Slumping international commodity prices have also reduced the cost of their investments, as have some currency swings such as the weakening euro.

State-backed Unisplendour Corporation Limited announced in September it would buy 15 percent of US data storage company Western Digital Corp for $3.8 billion.

Chinese power company Three Gorges in November won the right to operate two large hydropower plants in Brazil for 13.8 billion reals ($3.4 billion).

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china outbound investment nears 120bn in 2015 Arab Today, arab today china outbound investment nears 120bn in 2015

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china outbound investment nears 120bn in 2015 Arab Today, arab today china outbound investment nears 120bn in 2015

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday