China's Jan-Feb ODI up 13.1%

BEIJING - China's outbound direct investment (ODI) in the non-financial sector saw an increase of 13.1 percent year-on-year to $5.27 billion in the first two months, the Ministry of Commerce (MOC) announced Tuesday.

During the January-February period, Chinese entrepreneurs invested in 680 overseas enterprises in 88 countries and regions,said Yao Jian, spokesman for the ministry.

MOC figures show that China's outbound direct investment in the non-financial sector had amounted to $264 billion by the end of Feburary 2011.

China's ODI in the non-financial sector hit $59 billion in 2010, up 36.3 percent year-on-year, which equals to 60 percent of the foreign direct investment China attracted.

"In the next five to 10 years, China will gradually strike a balance on the capital flow," said Chen Deming,the Minister of Commerce, at a forum held in Beijing last weekend.