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Brexit will affect China outbound investment in short term: commerce ministry

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The uncertainty resulting from Britain's vote to leave the European Union will affect Chinese firms' overseas investments, but the impact will be short term, a commerce ministry spokesman said on Tuesday.

[BEIJING] The uncertainty resulting from Britain's vote to leave the European Union will affect Chinese firms' overseas investments, but the impact will be short term, a commerce ministry spokesman said on Tuesday.

Overseas investment by Chinese firms will continue to show a positive and stable trend, Shen Danyang told a news conference, adding that the Brexit vote had increased financial market volatility.

China's non-financial outbound direct investment rose 61.9 per cent in the January-May period from a year earlier, to 479.26 billion yuan (S$96.89 billion).

REUTERS