China's outbound portfolio investment up by June

BEIJING - China's overseas portfolio investment had continued its rising streak by June with the United States as the biggest destination, official data said Monday.

China made about $420.6 billion of portfolio investments, including investments in equities and bonds, in overseas markets by the end of June, the State Administration of Foreign Exchange said in an online statement.

The reading was nearly 35 percent higher than that of a year ago. In breakdown, China made $255.1 billion of equity investments and $165.5 billion of bond investments.

Of all, nearly a third was invested in the United States, followed by Hong Kong with $122.3 billion and the Cayman Islands with $26 billion.

China started to publish country-specific figures on overseas portfolio investment in January 2016 after the country joined the Coordinated Portfolio Investment Survey conducted by the International Monetary Fund at the end of 2015.