China was the world’s third largest investor for the second year in 2013, according to state news agency Xinhua. Outbound direct investment (ODI) from China reached a record high of $108bn (£66.98bn) last year, a 22.8% rise on ODI made in 2012, the agency said. Meanwhile, on Sunday the government said it would relax rules for Chinese companies making overseas investments.
The new rules will take effect on October 6. Published by the Ministry of Commerce on Sunday, Xinhua said the new procedures for domestic companies were “aimed at allowing more freedom for outbound investment”.
At the moment, any overseas investment project worth more than $100m needs to be approved by the ministry. However, any investments made into projects overseas “in sensitive countries or regions, as well as in sensitive industries” would still require approval by the government, the agency said.
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