China's direct investment abroad hits US$92 bln by end-2007

The aggregated direct investments of China in the overseas market topped US$92.05 billion by the end of last year, said a senior official of the China Council for the Promotion of International Trade (CCPIT) yesterday.

Chinese enterprises' enthusiasm for investing overseas has been on the rise since the government launched the policy which encouraged domestic companies to develop in global market in 1998. As a result, more than 5,000 Chinese investment entities had established almost 10,000 companies overseas in 172 countries and regions by the end of 2006.

The CCPIT and the China Chamber of International Commerce initiated a series of programs in 2006 to help them make better use of the domestic and international markets and carry out the domestic companies' global strategy further, according to sources.

The CCPIT and the Ministry of Commerce will organize the second Chinese Enterprise Outbound Investment Conference from Apr.22 to Apr.23 in Beijing.