China's investment abroad to break US$100 billion

JAKARTA: Executive Vice President of China Industrial Overseas Development and Planning Association Fan Chunyong said that China’s direct investment abroad is expected to break through US$100 billion and capital stock US$500 billion by 2013.

Fan's calculation is based on the average annual growth rate of China’s direct investment abroad in the past 10 years.

Fan, as quoted in a release published on the official website of Chinese Ministry of Commerce, stated that in 2009, stock of China’s direct investment abroad amounted to approximately US$300 billion, 32 times the size of 2002.

On that amount, China’s direct investment abroad rank across the globe jumped to the 6th position in 2009 from the 12th place in 2008, thus China being the genuine capital export power.

In accordance with the World Investment Report 2010 recently issued by the UN Conference on Trade and Development, non-financial foreign direct investment (FDI) of China amounted to roughly USD48b, ranking the sixth worldwide in 2009, which was 48 times the size of 2002, Fan said.