China's ODI reaches $148 billion

China's outward direct investment (ODI) reached $147.9 billion last year, edging up 0.9 percent year-on-year, among which non-financial ODI grew 11.4 percent to $130.1 billion, said a report by accounting firm EY China.

Non-financial ODI in economies involved in the Belt and Road Initiative totaled $31.8 billion, up 22.6 percent, the report said.

Chinese companies posted a 20.3 percent year-on-year increase in overseas merger and acquisition value, reaching $39.8 billion, marking three consecutive quarters of quarter-over-quarter growth.

Despite a decrease in the number of deals to 457 (down 16.3 percent year-on-year), the presence of large transactions exceeding $500 million notably rose, the EY report said. M&A activity in BRI involved economies surged by 32.4 percent year-on-year, outpacing the overall growth rate.

Sector-wise by deal value, TMT (technology, media, entertainment and telecommunications) and advanced manufacturing and mobility sectors dominated overseas M&As.

The power and utilities sector was the only sector witnessing growth in both deal value and volume, according to EY China.