- CNTV English - CCTV News

Homepage > News > Biz >

ODI set to overtake FDI 'within three years'

05-06-2011 11:23 BJT

US, EU and Latin America to draw growing outbound investment

BEIJING - With an annual growth rate of "20 to 30 percent", outbound direct investment (ODI) will overtake foreign direct investment (FDI) "within three years", a senior Ministry of Commerce official said.

The United States, the European Union and Latin America are set to see "a rapid" increase in ODI from China, Zheng Chao, commercial counselor at the Department of Outward Investment and Economic Cooperation at the ministry, told China Daily.

"Outbound direct investment is set for the fast track and will grow by between 20 to 30 percent in the next five years," Zheng said.

Earlier figures from the ministry suggested that ODI would take five years to pass FDI.

A report by the US Asia Society said that China's ODI is set to surge, with assets to reach between $1 trillion and $2 trillion worldwide by 2020.

ODI in the non-financial sector had reached $258.8 billion by the end of 2010, compared to $1.05 trillion for the total FDI figure over the last three decades, according to the ministry.

But the report also highlighted potential political obstacles, especially from the US Congress, which could have a "chilling effect" despite China doubling its investment there every year.

Global foreign investment shrank by 40 percent in 2009 thanks to the world financial crisis. But China's ODI in the non-financial sector increased by 6.5 percent to $43.3 billion that year. That saw China rise three places to ninth in the global investment league.

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program