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Outbound Investment Drops by 60% in H1

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China's overseas direct investment (ODI) totalled US$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 (SAFE) 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 US$12.5 billion, and financial ODI dropping by 76 percent to US$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.

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 (FDI) slipped by 40 percent year on year in the first half to US$48 billion, said the report.

(Xinhua News Agency October 16, 2009)