China's investments abroad surge by 123%

More than 12 billion dollars were invested: the total sum of money invested at home and abroad rose to more than 57 billion dollars. Half the money went into mergers and acquisitions.

Beijing (AsiaNews/Agencies) China's investment abroad soared 123% in 2005 to 12.3 billion dollars. This was reported by the China Daily, a government newspaper, citing a report from the Commerce Ministry and the National Bureau of Statistics.

The figure raised Chinese investments at home and abroad to 57.2 billion dollars January and December last year. According to the data published today, preferred investment destinations were Hong Kong, the United States, Japan and Russia.

Half the money went into mergers and acquisitions. In any case, the figure has not exceeded the sum of 60 billion dollars invested by foreign companies in China in the same period.

Beijing has been forcefully urging China's companies to invest abroad in a bid to reduce the economy's reliance on export-driven manufacturing. More than six billion dollars were invested in manufacturing ventures, including textiles, shoes, computers, machinery and pharmaceuticals.

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China's investments abroad surge by 123%

China's investments abroad surge by 123%

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