Non-financial ODI jumps 24% to $25b

China's non-financial outbound direct investment (ODI) surged 24.1 percent year-on-year to $25.5 billion in the first quarter this year, official data showed.

China's ODI in economies participating in the Belt and Road Initiative climbed 22.4 percent year-on-year to $3.61 billion in the first three months, the Ministry of Commerce said in an online statement.

The ministry said stringent controls have effectively reined in irrational outbound investment between January and March.

In the period, the majority of Chinese outbound investment flowed into sectors such as leasing, mining, manufacturing and information technology services, showed the data. No new investments were made in property, sports and entertainment industries.

China's outbound direct investment, after peaking in 2016, witnessed a drastic reduction in 2017 amid the government's efforts to curb irrational investment overseas that have brought potential risks to overall financial security.