China becomes fifth largest global investor in outbound direct investment

New Delhi, Sep 6 (ANI): China has become the fifth largest global investor in outbound direct investment (ODI) with a total volume of 56.5 billion dollars, compared to a ranking of 12th in 2008, according to the Chinese Ministry of Commerce.

Foreign direct investment (FDI) is also set to surpass 100 billion dollars this year, compared to 90 billion dollars last year.

Globally, foreign investment decreased by almost 40 percent last year amid the financial downturn and is expected to show only marginal growth this year, the China Daily reports.

The growth in both outbound investment from China, and inbound investment to China reflects the nation's rising economic power and attractiveness as an investment destination.

The Ministry of Commerce made the announcements in Xiamen on the upcoming United Nations Conference on Trade and Development (UNCTAD) World Investment Forum and the 14th China International Fair for Investment and Trade.

China's ODI grew by 1.1 percent from a year earlier to 56.53 billion dollars, which includes investment of 47.8 billion dollars in non-financial sectors worldwide, up 14.2 percent year-on-year.

"China is now the fifth largest investing nation worldwide, and the largest among the developing nations," said Shen Danyang, vice-director of the ministry's press department. (ANI)