China's ODI hits 278.4b yuan, closes FDI gap
Cooling economy prompts local firms to look overseas for growth opportunities
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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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