* 2023 figure extrapolated from official figures for the first 11 months.
Figures are based on company disclosures of investment transactions. Loans, trade, and bond purchases are not covered. Transactions with a value smaller than 95 million U.S. dollars are not included.
Citation formats
Chinese annual outward investment 2005-2023, based on transactions
Based on transactional data disclosed by companies, China's outward investment volume can be estimated at ** billion U.S. dollars in 2023. According to this accounting method, outward investment dropped considerably in 2020 due to the COVID-19 pandemic. This is roughly consistent with data published by receiving countries. In contrast, official data for outward foreign direct investment (FDI) published by the Chinese Ministry of Commerce (MOFCOM) indicated an increase to billion U.S. dollars in 2020. However, MOFCOM does not provide useful data about final recipients, as more than two-thirds of the total FDI is channeled through Hong Kong, the British Virgin Islands, and the Cayman Islands.
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American Enterprise Institute. (January 18, 2024). Annual value of Chinese outward investment based on transactional data vs MOFCOM outward FDI flows from 2005 to 2023 (in billion U.S. dollars) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 25, 2026, from /statistics/1476734/china-outward-investment-value-based-on-transactions/
American Enterprise Institute. "Annual value of Chinese outward investment based on transactional data vs MOFCOM outward FDI flows from 2005 to 2023 (in billion U.S. dollars)." Chart. January 18, 2024. ÌÇÐÄÆƽâ°æ. Accessed July 25, 2026. /statistics/1476734/china-outward-investment-value-based-on-transactions/
American Enterprise Institute. (2024). Annual value of Chinese outward investment based on transactional data vs MOFCOM outward FDI flows from 2005 to 2023 (in billion U.S. dollars). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 25, 2026. /statistics/1476734/china-outward-investment-value-based-on-transactions/
American Enterprise Institute. "Annual Value of Chinese Outward Investment Based on Transactional Data Vs Mofcom Outward Fdi Flows from 2005 to 2023 (in Billion U.S. Dollars)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 18 Jan 2024, /statistics/1476734/china-outward-investment-value-based-on-transactions/
American Enterprise Institute, Annual value of Chinese outward investment based on transactional data vs MOFCOM outward FDI flows from 2005 to 2023 (in billion U.S. dollars) ÌÇÐÄÆƽâ°æ, /statistics/1476734/china-outward-investment-value-based-on-transactions/ (last visited July 25, 2026)
Annual value of Chinese outward investment based on transactional data vs MOFCOM outward FDI flows from 2005 to 2023 (in billion U.S. dollars) [Graph], American Enterprise Institute, January 18, 2024. [Online]. Available: /statistics/1476734/china-outward-investment-value-based-on-transactions/
