China outbound investment leaps to record high in Dec

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Chinese non-financial ODFI totaled $14.7 billion in December and $24.7 billion in the fourth quarter.  (Reuters) Chinese non-financial ODFI totaled $14.7 billion in December and $24.7 billion in the fourth quarter. (Reuters)
SummaryChinese non-financial ODFI totaled $14.7 billion in December and $24.7 billion in the fourth quarter.

Ltd of International Lease Finance Corp from American International Group.

Part of the surge in OFDI was also likely to have reflected efforts by firms or wealthy individuals to evade China's capital controls.

China's closed capital account mean that Chinese residents are restricted from transferring money overseas if they want to buy financial assets, property, or make direct corporate investments not approved by MOFCOM.

A Reuters analysis showed that hot money outflows accelerated in the second half of 2012.

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