(Yicai Global) Nov. 7 -- China's outward foreign direct investment flows increased by 16.3 percent from the previous year in 2021, ranking among the world's top three for the tenth consecutive year, according to official data released today.

The data, jointly released by the Ministry of Commerce, the National Bureau of Statistics and the State Administration of Foreign Exchange, shows that last year 80 percent of China's OFDI went to leasing and business services, wholesale and retail, manufacturing, finance and transportation, with flows exceeding USD10 billion in each field.

Investment in Belt and Road countries continued to grow. By the end of last year, China had set up more than 11,000 enterprises in these countries, accounting for about a quarter of the total number of Chinese enterprises abroad. OFDI in Belt and Road countries reached a record high of USD24.15 billion, accounting for 13.5 percent of China's total outbound investment.

Regional enterprises also actively invested abroad last year, spending USD87.73 billion in outbound non-financial investments, with Guangdong, Shanghai and Zhejiang ranking as the top three.

China's OFDI has been significantly mutually beneficial. Last year, China's outbound investment drove USD214.2 billion in goods exports, up 23.3 percent from the previous year, while goods imports were worth USD128 billion, up 44 percent. Foreign enterprises also paid USD55.5 billion in taxes, up 24.7 percent from the previous year, and provided about 3.95 million local jobs.

Editor: Tom Litting