China’s Ministry of Commerce announced that outbound non-financial direct investment of CNY99.38 billion (equivalent to USD15.36 billion) in January-February 2021, down 7.9 percent year-on-year, the Wall Street Journal website reported Thursday.
The report said China’s outbound non-financial direct investment in 2020 will be $110.15 billion (equivalent to $759.77 billion), down 0.4 percent year-on-year.
The report also said that the sudden outbreak of New Crown Pneumonia (CCP virus) at the beginning of last year had a significant impact on China’s outbound FDI, and together with the Chinese New Year factor, the indicator fell sharply by 9.5% in January last year. 1% year-on-year decline in January-February.
With the global economic slowdown, falling RMB exchange rate and changes in China’s foreign exchange and outbound investment policies, etc., China’s outbound FDI reportedly slowed sharply from the second half of 2016, with a sharp 29.4% year-on-year decline in 2017, a slight 0.3% year-on-year increase in 2018 and another 8.2% decline in 2019 in USD terms.
In previous years, the indicator had maintained high double-digit growth.
Recent Comments