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Both foreign direct investment in China and
outbound direct investment have risen this year, putting the nation on track to
meet its annual growth target, the minister of commerce said on Sunday.
FDI is expected to reach $135 billion this year, up
almost 13 percent year-on-year, while ODI is forecast to hit $128 billion, up
24 percent year-on-year.
Gao Hucheng, the minister of commerce, said his
department's main tasks in the 13th Five-year Plan (2016-20) will be to
stabilize external demand, improve the quality of high-end manufacturing and
adjust the industrial structure to attract quality FDI.
"We'll also encourage more Chinese companies
to invest abroad to diversify sales channels in the global market," he
said at the ministry's annual meeting in Beijing.
Due to fast-growing manufacturing and service
industries, China received $620 billion in FDI during the 12th Five-Year Plan
period (2011-15), up 30 percent on the previous five-year plan. ODI grew 14.2
percent over the same period.
Ministry spokesman Shen Danyang said the Belt and
Road Initiative, which aims to improve regional connectivity between Asia,
Europe and Africa and involves big-ticket infrastructure projects, has contributed
to ODI growth this year.
The initiative, proposed by President Xi Jinping in
2013, includes the Silk Road Economic Belt and the 21st Century Maritime Silk
Road, and covers about 4.4 billion people in more than 60 countries and
regions.
In the first 10 months of this year, Chinese ODI in
49 of the nations along the Belt and Road routes totaled $13.17 billion, up
36.7 percent year-on-year, with Russia, Singapore, Laos, Indonesia and Kazakhstan
among the top destinations.
Li Guanghui, vice-president of the ministry's think
tank, the Chinese Academy of International Trade and Economic Cooperation, said
"green growth"－one of five key development concepts in the 13th
Five-Year Plan－can
help attract more FDI as it will spur technological innovation in sectors such
as power generation, steel production and construction materials.
The environmental protection sector has grown by
about 20 percent a year since 2011, with more than $500 billion injected in the
sector over that period. A further 2 trillion yuan ($308 billion) is expected
to flood in each year until 2020.
Gao said China will
also step up negotiations next year on the Regional Comprehensive Economic
Partnership, as well as the free trade agreement between China, South Korea and
Japan, and the country's proposed FTAs with Sri Lanka and Maldives, to build
stronger trade and investment ties with global partners.
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