China companies accelerate overseas investments
Updated: 2012-11-15 14:57
Recent data by China's Ministry of Commerce shows Chinese companies have accelerated their overseas investments during the past ten years. In 2003, China's outbound direct investment was $2.85 billion.
But growth has been rapid and the 2008 financial crisis didn't drag the pace. Last year, it reached an all-time high of more than $74 billion.
As of the end of 2011, the total ODI amounted to about $425 billion. More than 13,500 investors have set up 18,000 businesses overseas. Among others, wholesale, mining, transport and manufacturing are the most popular picks.
China's increasing ODI has not only benefited the investors but the local economies as well in terms of employment and tax revenue. In 2011, the overseas businesses paid taxes of $22 billion to local governments.
Speccial coverage:Chinese Companies' Overseas Footprint