Overseas investment more than doubles

China overseas investment in 2003 totaled US$2.08 billion, an increase of 112% from the previous year, according to the State Administration of Foreign Exchange. Chinese companies established a total of 510 overseas enterprises in 2003, up from 350 the year before. Ministry of Commerce officials said that China's total overseas investment exceeded US$30 billion and covered over 160 countries. Investments were focused on manufacturing, processing, engineering and services.