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China's outbound investment to hit $42b in 2009

(Xinhua)
Updated: 2009-12-23 10:00
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China's Ministry of Commerce (MOC) said Tuesday that annual overseas direct investment (ODI) from non-financial sectors is expected to top $42 billion in 2009.

Non-financial ODI in the first 9 months stood at $32.87 billion, up 0.5 percent year on year, according to the MOC.

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Investment in the overseas market includes establishing marketing networks, securing advanced technologies from overseas countries and overseas acquisitions in the first 9 months, with overseas acquisition contributing to 43.5 percent of the total, said the ministry.

China reported $64.77 billion of business volume in the overseas-contracted projects in January-to-November period, up 37.5 percent from the corresponding period last year.

New contracts valued at $106.5 billion were signed in the first 11 months, up 20.9 percent from a year earlier.
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