China's outbound investment to slow in 2017: Ministry

BEIJING - China's outbound direct investment (ODI) will steadily slow, but be of better quality in 2017, the Ministry of Commerce (MOC) said Thursday.

Despite rapid ODI growth in 2016, Chinese companies face increased risks in investing overseas due to fluctuations on international financial markets, uncertainties in other country's economic policy and restrictions by some developed countries on investment from China, particularly from Chinese state firms, said MOC spokesperson Sun Jiwen at a press briefing.

The ministry will support authentic, legal outbound investment by capable and qualified Chinese companies, Sun told reporters.

He said measures will be taken to prevent risks in outbound investment, regulate the market and encourage investment in the real economy and emerging industries.

China's non-financial ODI soared 44.1 percent to $170 billion in 2016.