China's ODI hits 278.4b yuan, closes FDI gap

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.