China's total outbound investment jumps in Q1

BEIJING - China's outbound direct investment (ODI) including financial and non-financial sectors registered rapid growth in the first quarter, according to official data.

All-industry ODI totaled $28.2 billion, up 16.2 percent year-on-year, according to data from the Ministry of Commerce (MOC) and the State Administration of Foreign Exchange.

Domestic investors made $25.5 billion of non-financial ODI in 2,023 overseas enterprises in 140 countries and regions for January-March, up 24.1 percent from the same period last year.

China's ODI has seen rapid growth in recent years. However, noting an "irrational tendency" in outbound investment, authorities have set stricter rules and advised companies to make investment decisions more carefully.

In the first three months, no new ODI projects were reported in the real estate, sports and entertainment sectors, the MOC said in a previous statement.