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In 2006, the outward foreign direct investment from China’s service industry ( as per the standard Industrial Classification for National Economic Activities) stood at USD 11.38 billion, or 53.8% of China’s total outward foreign direct investment. Of which, the outward foreign direct investment from the financial sector amounted to USD 3.53 billion, and that from the non-financial sector USD 7.85 billion. Due to the unavailable statistical data concerning outward foreign direct investment in the non-financial sector before 2006, the outward foreign direct investment from this sector in 2006 decreased by 3.2% over 2005, after subtracting outward foreign direct investment from the financial sector.
In recent years, China’s service sectors that made outward foreign direct investment featured the following:
1. Outward foreign direct investments were mainly concentrated in traditional service sectors
In 2006, in respect of outward foreign direct investment, the top three sectors were leasing and business services, transportation, warehousing and postal services, wholesale and retail services among China’s non-financial service sectors. Of which, the outward foreign direct investments to transportation, warehousing and postal services, the second largest sector among them, reached USD 1.38 billion, accounting for 12.1% of the total outward foreign direct investments to service sectors that year, a 138.5% year-on-year increase (a 30.4% year-on-year decrease in 2005). In rental and leasing and business services, the largest sector among them, outward foreign direct investments totaled USD 4.52 billion, accounting for 39.7% of the total outward foreign direct investments to service sectors in the year, an 8.5% year-on-year decrease. The outward foreign direct investments to wholesale and retail services, the third largest sector among them, amounted to USD 1.11 billion, accounting for 9.8% of the total outward foreign direct investments to service sectors in the year, a 50.7% year-on year decrease . In addition, in hotel and catering services, it was USD 2.5 million, falling by 66.9%, in spite of its small share. In these sectors, the drastic drop in 2006 and the swift growth before 2006 presented a sharp contrast.
2. Outward foreign direct investments to financial sectors kept growing steadily
By the end of 2006, China’s accumulated outward foreign direct investments to financial sectors reached USD 15.61 billion, or 17.2% of China’s accumulated outward foreign direct investments. Of which, in banking services, the largest sector among them, accumulated outward foreign direct investments amounted to USD 12.34 billion, accounting for 79% of total outward foreign direct investments to financial sectors; in the insurance sector, it reached USD 780 million, accounting for 5% of the total. The outward foreign direct investments to banking services were mainly contributed by state-owned commercial banks By the end of 2006, there were altogether 47 branches, 31 affiliates and 12 representative offices established overseas by China, with over 20,000 foreign employees. By the end of 2006, there were 12 insurance financial organizations established overseas by China.
In 2006, China’s outward foreign direct investments to financial services stood at USD 3.53 billion, making financial services the second largest sector among China’s service sectors in terms of outward foreign direct investments, accounting for 31% of China’s total outward foreign direct investments to financial services that year. In the year, the banking services still remained to be the largest sector among financial sectors in terms of outward foreign direct investment, with the outward foreign direct investments of USD 2.51 billion, accounting for 71% of China’s total outward foreign direct investments to financial services.
3. Outward foreign direct investments to non-financial modern services grew fast
In 2006, China’s outward foreign direct investments to nine emerging or modern services including information transmission, computer and software, real estate, scientific research, technical services and geological prospecting stood at USD 840 million, accounting for 7.4% of China’s total outward foreign direct investments to service sectors in the year. In spite of a small sum and a small share, it surged up 157.7% on a year-on-year basis. Of which, in water works, environment and public utilities management services, it went up to USD 8.25 million in 2006 from USD 130,000 in 2005, a 6250% increase, and it increased by 230% in real estate; by 220% in information transmission, computer and software; by 120% in research, technical services and geological prospecting; by 530% in culture, sports and recreation services.
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