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China's Foreign Investment Increased Rapidly in the First Half
2013-07-18
Brief:China's Foreign Investment surged rapidly in the first half of this year. Mergers and acquisitions accounted for about 30 percent of China’s investment in the first half. And the most appealing sectors for Chinese investors were construction.
China’s economy grew at its slowest pace in 13 years last year as GDP expanded 7.8 percent.

In the first half of this year growth slipped again to 7.6 percent, Beijing said on Monday.

But Chinese overseas investment increased significantly in the period, with money flowing into the US almost quadrupling, jumping 290 percent year-on-year.

It almost doubled into resource-rich Australia, where it went up 93 percent, and investment into the EU also rose 50 percent.

In May China’s Shuanghui International announced it would buy US meats giant Smithfield for US$4.7 billion, while Australia is a crucial source of commodities for Beijing.

Mergers and acquisitions accounted for about 30 percent of China’s investment in the first half, Sministry spokesman Shen Danyang said, citing oil giant CNOOC’s  US$15.1 billion purchase of Canada’s Nexen — the largest ever overseas takeover by a Chinese firm — as an example.
 
The most appealing sectors for Chinese investors were construction, which surged 541 percent in January to June, science and technology (151 percent), mining (142 percent) and real estate (110 percent).

Taipei Times

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