China's direct investment overseas will grow by US$60 billion
from 2006 to 2010, according to forecasts by experts and
officials.
Zheng Chao, an official of foreign cooperation with the Ministry
of Commerce, said China has a good opportunity to increase its
investment overseas, backed up by fast economic growth and a
healthy global economy.
China has maintained robust momentum in economic development and
foreign trade and it has also seen a rapid increase in the amount
of overseas funds and foreign currency reserves, Zheng said.
China registered an economic growth rate of 10.9 percent in the
first half of this year, and it conducted foreign trade worth
US$795.7 billion, up 23.4 percent on the previous year. China's
total foreign currency reserves reached US$941 billion in the first
half of this year, 35 percent of the national GDP and the highest
in the world.
China has intensified the readjustment of its economic structure
and improved its policies encouraging Chinese enterprises to invest
overseas, Zheng said. China has developed a group of industries and
products which are competitive on the global market, he added.
China's direct investment overseas hit a new high of US$12.26
billion in 2005, exceeding US$10 billion for the first time, the
Ministry of Commerce said Monday.
(Xinhua News Agency September 6, 2006)