Outbound direct investment on uptrend

New partnership: People walk past the booth of Contemporary Amperex at the Auto Shanghai show. The company is in talks with a European partner regarding the establishment of multiple EV battery recycling stations across Europe. — Reuters

BEIJING: China’s outbound direct investment (ODI) is poised to maintain an upward trajectory in the second half of 2023, boosting the growth of its private companies and contributing to global economic recovery, market observers and business executives say.

Despite facing an adverse external environment, the country’s non-financial ODI rose 22.7% year-on-year to 431.61 billion yuan (US$60.2bil or RM275bil) in the first half of the year, according to data from the Commerce Ministry published last Thursday.