China invests US$1.8bn overseas

Chinese investors sent US$1.8bn of non-financial investments overseas in the first 11 months of 2004, the Ministry of Commerce announced, with Latin America overtaking Hong Kong as the number one destination. In total the countries of Latin America attracted US$889m of investments. In terms of industries, mining accounted for US$994m or 55.12% of the total overseas investments, part of a intensifying effort by Chinese industries to secure access to raw materials from around the world.