China’s outbound investment is surging from already-record levels, government data shows, as analysts suggest that the country’s booming clean energy technology sector is increasingly looking to set up manufacturing operations abroad in the face of US and EU tariffs.
Investment from China into other countries rose 12.5 per cent in renminbi terms to Rmb789.45bn ($112.2bn) in the first eight months of 2024 from the same period the year before, according to statistics released last week by the Ministry of Commerce and the State Administration of Foreign Exchange.
That jump followed an increase of 6 per cent to Rmb1.04tn for the full year in 2023 on the year before, according to the commerce ministry.
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