Beijing: With exports markets declining and FDI inflows slowing down due to global economic crisis, China plans to reorient its foreign trade by stepping up outbound direct investment (ODI) to USD 560 dollars to make better use of its USD 3.20 trillion forex reserves.
   
Outbound direct investment (ODI) for 2011-15 is expected to register double-digit annual growth to reach USD 560 billion, matching the nation's foreign direct investment (FDI), China's Commerce Ministry said.
   
While stepping up ODI to make better use of its USD 3.20 trillion foreign exchange reserves, China has also opened up more sectors this month for FDI.
   
During 11 months of 2011, China's FDI surged by 13 percent year-on-year to USD 103.8 billion, close to the level of 2010.
    
The figure for the whole year is expected to range from USD 110-120 billion.

In the next four years, the government will accelerate promoting "overseas investment" during the 12th Five-Year Plan the ministry said in a statement adding that the scale of accumulative ODI from 2011 to 2015 will reach the level of the nation's FDI.
    
"The annual growth rate (from 2011 to 2015) for the nation's ODI on average will remain around 17 percent, and the accumulative volume in the five years is expected to reach USD 560 billion, equivalent to that of China's FDI during the same period," it said.

(Agencies)