China's outbound investment jumps, catching up with FDI

China's outbound direct investment soared in the first five months to 278.4 billion yuan ($44.84 billion), official data showed, closing a gap with foreign direct investment inflows as local firms flock overseas for growth opportunities. The 47.4% jump in outbound investment, made by non-financial firms, built on the 36.

1% rise in the first four months. In the first five months of the year, FDI grew 10.5% from a year earlier to 331.0 billion yuan, marking a slight slowdown from 11.1% growth in January-April, the Commerce Ministry.

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