Mofcom: China buys $1.2 billion trillion in foreign assets in first quarter

China Economic network Beijing April 19 (reporter Lin Su-min) The Ministry of Commerce spokesman Yao Jian today in a regular briefing on China's foreign investment and economic cooperation, in which China's domestic investors through mergers and acquisitions to achieve foreign direct investment of 1.2 billion U.S. dollars, accounting for the total investment of 14.1%,　　Most of the major mergers and acquisitions are concentrated in manufacturing. Yao said that in the first quarter, China's domestic investors in the global 98 countries and regions of the 974 foreign enterprises in the direct investment, the cumulative realization of non-financial foreign direct investment of 8.51 billion U.S. dollars, the year-on-year growth of 13.2%. By the end of March, China's cumulative non-financial category of foreign direct investment of 267.3 billion U.S. dollars.　　In the first quarter, China's foreign direct investment flows mainly to Hong Kong, Australia, Caimas, Is., Luxembourg, Iran, the United States, Singapore, Burma, Brazil, Cambodia, Laos and other countries and regions, including Australia, the European Union and other places of direct investment growth of about 150%. Among them, China's domestic investors through mergers and acquisitions to achieve foreign direct investment of 1.2 billion U.S. dollars, accounting for the total investment of 14.1%, the main mergers and acquisitions are concentrated in the manufacturing industry. For example, the Chinese group, through its overseas subsidiaries, acquired a 50% per cent stake in Gibb International, the Royal Cayman Group of the Netherlands, through its foreign affiliates, and Newsilt Holdings Limited acquired 90.88% per cent of the Canadian Plant Cellulose Co., Ltd. through its overseas subsidiaries　　Citic Group acquired a 100% per cent stake in the Spanish company and the Spanish heavy equipment manufacturing company for 62.42 million US dollars. In the first quarter, China's foreign contracted engineering business completed a turnover of 16.98 billion U.S. dollars, an increase of 2.9%, the new contract amounted to 30.95 billion U.S. dollars, an increase of 16.7%. Affected by the political turmoil in some countries in the Middle East and North Africa, my contracted projects in the area fell markedly. Among them, China's foreign contracted projects in the key countries Algeria, Libya, the new signing contract amounts fell 70.8% and 46.9% respectively, the turnover decreased by 32.6% and 11.8%. In the first quarter, my business breakthrough in Europe and Latin America became a bright spot for outsourcing projects.　　In Europe, the new signing of the contract amount of 1.73 billion U.S. dollars, an increase of 179.7% per cent in Latin America, the new contract 2.81 billion U.S. dollars, an increase of 164.4%. In addition, China's foreign labor services to send all kinds of labor service personnel 93,000 people, compared to the same period last year, the increase of nearly million people, including contracted projects outside the staff of 57,000 people, labor cooperation sent 36,000 people. At the end of March, 769,000 workers from all kinds of services were reduced by nearly 9,000, of whom I had 173,000 workers in Africa, reducing 24,000 from the same period a year earlier.