BEIJING – With an annual growth rate of “20 to 30 percent”, outbound direct investment (ODI) will overtake foreign direct investment (FDI) “within three years”, a senior Ministry of Commerce official said.
The United States, the European Union and Latin America are set to see “a rapid” increase in ODI from China, Zheng Chao, commercial counselor at the Department of Outward Investment and Economic Cooperation at the ministry, told China Daily.
“Outbound direct investment is set for the fast track and will grow by between 20 to 30 percent in the next five years,” Zheng said.
Earlier figures from the ministry suggested that ODI would take five years to pass FDI.