BEIJING - China's non-financial outbound direct investment (ODI) slumped in January and its offshore property purchases plunged after authorities tightened restrictions on capital outflows to support the ailing yuan currency and ease pressure on the country's foreign exchange reserves. China's non-financial ODI slid 35.7 percent in January to 53.27 billion yuan ($7.77 billion) -- the weakest in 16 months -- compared with the same period a year earlier, the Ministry of Commerce said on Thursday.
Chinese investment in offshore property - which has helped fuel sharp and often contentious home price rises from Vancouver to London - fell by an even sharper 84.3 percent. Data earlier this month showed China's foreign exchange reserves unexpectedly fell below the closely watched $3 trillion level in January for the first time in nearly six years. But the drop was less than expected, suggesting tighter regulatory controls are making some progress in slowing capital flight.
http://www.ripplesadvisory.com/aboutus.php Click here and watch out the best Share and Stock Market recommendations or One missed call on @9303093093
No comments:
Post a Comment