China predicts new surge in ODIJanuary 5th, 2012 - 5:31 pm ICT by IANS
Beijing/Hong Kong, Jan 5 (IANS) Outbound direct investment (ODI) for 2011-15 is expected to register double-digit annual growth to reach $560 billion, matching China’s foreign direct investment (FDI).
The government will accelerate promoting “overseas investment” during the 12th Five-Year Plan (2011-15) period, the statement, posted on the website of the commerce ministry, said.
The scale of accumulative ODI from 2011 to 2015 will reach the level of the nation’s FDI, China Daily Thursday quoted the statement as saying.
“The annual growth rate (from 2011 to 2015) for the nation’s ODI on average will remain around 17 percent, and the accumulative volume in the five years is expected to reach $560 billion, equivalent to that of China’s FDI during the same period,” it said.
China will promote investment in the service sector, including finance, architecture, tourism, education and telecoms.
The FDI outlook is less promising. From 2011 to 2015, China’s annual FDI is expected to reach, on average, $120 billion, with improved quality and diversification, the statement said.
During 11 months of 2011, China’s FDI surged by 13 percent year-on-year to $103.8 billion, close to the level of 2010. The figure for the whole year is expected to range from $110 to $120 billion, experts predicted.
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Tags: accumulative, annual growth rate, architecture, beijing, china daily, commerce ministry, diversification, fdi china, finance, foreign direct investment, hong kong, odi, overseas investment, service sector, tourism education