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BEIJING, Oct. 16 (Xinhuanet) -- A slew of data on the Chinese economy has been released from fixed asset investment to outbound direct investment. And here's the general picture: the country is boosting investment at home and abroad. And we've got my colleague Wu Haojun here to give us more details on the numbers and what they are saying about the Chinese economy.
Q1: We know there are some concerns about where the Chinese economy is heading lately. So what do the data tell us?
A: If the data tell us one thing, it's that the government is working hard to prop up the economy. The National Development and Reform Commission said it approved 218 fixed asset projects worth 1.81 trillion yuan in the first nine months of the year. Transport and infrastructure led the field, with 84 projects worth over 990 billion yuan. The NDRC also gave the green light to 398 billion yuan worth of irrigation and water conservancy projects, as well as to 236 billion yuan of energy projects. But now more important than these numbers is the economic context. Back in June, China's central bank lowered its 2015 GDP forecast to 7%. Now despite the slowing growth, the government is still optimistic about the economy, which it says is more balanced and better structured than ever. And these investment projects, rather than offering a quick boost, the NDRC says, are a way to provide strong foundations for long-term economic growth.
Q2: Let's also take a look at outbound direct investment, which speaks to the growing global ambitions of Chinese enterprises. Tell us more about that.
A: Yes, the data really reflect a trend that has been going on for a while now. According to the Ministry of Commerce, China's non-financial outbound direct investment increased 16.5% to 87.3 billion dollars in the first three quarters. And most notably, the ministry says the fast growth was led by the Belt and Road Initiative. In the first three quarters, Chinese companies' ODI to countries along the belt and road jumped 66.2% to 12 billion dollars. Experts say this trend of growing Chinese outbound investment has been years in the making... and it's the best possible scenario for both China and destinations where Chinese money and production capacity are much needed.
And increasingly, it's private enterprises taking the lead. Wanda, China's biggest private property developer, is one such example, and certainly not the only one. Over the years, it's expanded its reaches as far as the US and Europe. And here's the big picture, investment by both non-state-owned companies and local businesses surged in the first three quarters of the year...38 and 78% respectively. Those numbers now make them the main source of Chinese outbound direct investment.
(Source: CNTV.cn)
