China¡¯s direct investment overseas hit a new high of US$12.26 billion in 2005, the Ministry o Commerce said.
Of that sum, US$3.8 billion came from capital stocks, US$3.2 billion from reinvested profits and the remaining US$5.26 billion were invested through other forms.
China¡¯s aggreated direct overseas investment has reached US$57.2 billion, 0.59 percent of the world¡¯s total. Mergers and acquisitions accounted for half of China¡¯s overseas direct investment. Foty-three percent of the investment was in the form of lending to overseas businesses.
Eighty-one percent went to Cayman Island, Hong Kong and other tax havens. Latin America overtook Asia as the No. 1 destination for Chinese investment.
East China¡¯s Zhejiang Province finds 949 local companies investing abroad, representing 23.6 percent of the tota.
Source: Beijing Today