Outbound FDI increases by 123%

Foreign investment by Chinese companies (excluding banks) jumped 123% to US$12.3 billion in 2005, according to a report released by China's Ministry of Commerce and National Bureau of Statistics. Limited liability companies accounted for 32% of the investors, surpassing state-owned enterprises' share of foreign direct outbound investments.

Over 60% of overseas investments came from coastal areas such as the Zhejiang, Guangdong and Shandong provinces. Hong Kong, the US, Japan and Russia were the main investment destinations for Chinese companies.