Firms buy into finance sector

Chinese financial institutions received $660 million in foreign equity investment in the first quarter, according to figures released by the State Administration of Foreign Exchange on Wednesday.

Domestic financial companies made overseas equity investments totaling $1.55 billion over the same period. By the end of last year, overseas investors had poured $68.4 billion into Chinese financial institutions, while Chinese financial companies made $52.7 billion in outbound investment.