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China has enacted 36 sets of conditions for its companies to invest abroad in a bid to curb bad investments and cut debt [PPIO]
Total FDI during this period grew by 0.5 per cent to 227.54 billion yuan, or $36 billion, with a focus on technology industries.
Year on year, the increase has been 0.4 per cent.
In the high-tech manufacturing sector, FDI has grown by 66 per cent, mostly from overseas investors, said Gao Feng, spokesman with the Ministry of Commerce.
Meanwhile, China continues to invest overseas to the tune of at least $180 billion in 2016 and is expected to be one of the worlds’s largest investors by 2020.
But in 2017, the Chinese government enacted a new set of rules and regulations meant to tighten control on capital leaving the country in a bit to ensure that waht was being invested overseas was in sound assets.
Chinese FDI in the US, for example, fell to US$29 billion in 2017, from US$46 billion in 2016.
The BRICS Post with inputs from Agencies
