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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...

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