China outbound direct investment surges in H1

BEIJING - China's outbound direct investment (ODI) increased sharply in the first half of 2015, thanks to less government restrictions, an official with the Ministry of Commerce (MOC) said Thursday.

China's non-financial ODI grew 29.2 percent in the first six months to $56 billion, said Zhang Xiangchen, deputy international trade representative with the MOC.

"We are very confident that China will accomplish or probably outperform the annual target of 10 percent ODI growth," said Zhang.

ODI in manufacturing jumped 63.1 percent to $5.09 billion.

China revised an ODI regulation last October, streamlining procedures and allowing domestic enterprises to invest in more sectors abroad.

"The government is trying to create an easier environment for enterprises to explore overseas markets," said Zhang.

China became a net capital exporter for the first time last year when ODI outnumbered foreign direct investment (FDI). ODI grew 14.1 percent in 2014, sharply eclipsing the 1.7 percent FDI growth.