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Report: China's ODI may exceed FDI in 2014

CCTV.com

10-30-2014 16:45 BJT

A new report on Chinese companies' globalization estimates that China's outbound investment will exceed incoming foreign investment for the first time this year. 

The report from the Chinese Academy of Social Sciences says China's ODI has grown 100-fold in recent years, from less than 1 billion US dollars in 2000 to nearly 108 billion in 2013. The number is expected to reach 120 billion dollars this year, outstripping FDI for the first time.

"Chinese enterprises are backed by a strong country, which is the world’s second largest economy. China's companies have developed well in the country, and had long-term cooperation with foreign companies in the past 30 years, which helped them fostered many experienced and internationalized personnel. It’s a mature timing for them to ’go-out’," said Long Yongtu, chairman of Center for China and Globalization.

Chinese companies still face some problems, however, such as financing difficulties, vulnerability to risk, and misunderstandings involving different cultures and regulations in the overseas markets.

"From the angle of the workforce, we think companies should hire overseas Chinese, and at the same time also hire local employees, like hiring Americans in the U.S. Therefore, the global personnel can have good communications with Chinese companies," said Wang Huiyao, director of Center for China and Globalization.

The report from the Chinese Academy of Social Sciences indicates China has been investing in more industries in recent years, expanding from the energy sector to high-tech, construction and culture industries. Asia remains the top destination for Chinese investment, while more private-sector companies are interested in investing in the US.

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