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Outflows of Capital from China

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  • David Wall
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    Abstract

    While the world has been mesmerised by China’s emergence as a major player in international trade, now being one of the world’s top ten traders, and also as an absorber of international capital (second only to the United States), China’s state-owned and other public sector enterprises have been quietly growing in importance as a source of international capital. Chinese enterprises now have foreign direct investment in virtually every country in the world and across the whole spectrum of economic activities, from merchant banking to fish processing and forestry. This paper reviews the available aggregate data on outflows of capital from China. It also examines such data as is available on individual foreign direct investments. One conclusion which emerges is that while such outflows are growing and being disbursed on a global basis there is a significant concentration in a small number countries, in particular Australia, Canada and the United States, in addition to the strong ... Alors que le monde était fasciné par l’émergence de la Chine en tant qu’acteur majeur dans le commerce international — aujourd’hui l’un des dix principaux pays exportateurs — et “grand consommateur” de capitaux internationaux (au deuxième rang après les États-Unis), les entreprises d’État et les autres entreprises du secteur public sont devenues progressivement une source de financement au niveau international. Ainsi, les firmes chinoises sont présentes par le biais des investissements directs étrangers (IDE) dans la quasi-totalité des pays et dans tous les domaines de l’activité économique (de la banque d’affaires à l’industrie de la pêche et à l’arboriculture). Ce document examine les données agrégées disponibles sur les sorties de capitaux de la Chine et sur les investissements directs étrangers privés (quand ces chiffres existent). Il montre que ces mouvements de capitaux s’accroissent et concernent le monde entier avec toutefois une forte concentration sur un nombre restreint ...

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    File URL: http://dx.doi.org/10.1787/334371153553
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    Bibliographic Info

    Paper provided by OECD Publishing in its series OECD Development Centre Working Papers with number 123.

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    Date of creation: Mar 1997
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    Handle: RePEc:oec:devaaa:123-en

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    Cited by:
    1. Hongyi Bi & Sofia Elena Colesca, 2006. "The positive analysis about the condition of Chinese technology gain FDI," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 4(1), pages 27-32, November.
    2. Yin-Wong Cheung & Xingwang Qian, 2009. "The Empirics of China's Outward Direct Investment," CESifo Working Paper Series 2621, CESifo Group Munich.
    3. Agata Antkiewicz & John Whalley, 2006. "Recent Chinese Buyout Activity and the Implications for Global Architecture," NBER Working Papers 12072, National Bureau of Economic Research, Inc.

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