China's ODI hits 278.4b yuan, closes FDI gap
Cooling economy prompts local firms to look overseas for growth opportunities
Beijing
CHINA'S outbound direct investment (ODI) soared in the first five months to 278.4 billion yuan (S$59.8 billion), official data showed, closing a gap with foreign direct investment (FDI) inflows as local firms flock overseas for growth opportunities.
The 47.4 per cent jump in outbound investment, made by non-financial firms, built on the 36.1 per cent rise in the first four months.
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