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China to see spike of ODI in 2015

Updated: Mar 5,2015 3:29 PM     Xinhua

China’s non-financial ODI is estimated to reach $113 billion, which is an increase of about 10 percent from the previous year, noted the report on the implementation of the 2014 plan and on the 2015 draft plan for national economic and social development.

“We will move faster to build a system for providing financial services to outward investment, expand the channel for using foreign exchange reserves, and provide better financial services, information services, legal services, and consulate protection for Chinese enterprises investing overseas,” noted the report.

Latest data showed China’s ODI by non-financial firms surged 40.6 percent to $10.17 billion in January, with Hong Kong Special Administrative Region (SAR), the Association of Southeast Asian Nations (ASEAN), and European Union as top investment destinations.

The National Development and Reform Commission, China’s top economic planner, has been entrusted by the State Council, China’s cabinet, to submit the report to the third session of the 12th National People’s Congress (NPC) for deliberation and for comments from the members of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC).

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