State firms increase overseas investment

The centrally-administrated State firms contributed 64 percent of China's overseas direct investment (ODI) in value last year, according to the Ministry of Commerce (MOFCOM).

Eighty-six percent, or 117 out of the 136 centrally-administrated State-owned enterprises (SOE) invested a total of $35.74 billion last year, with the overall ODI amounting to $55.91 billion in 2008.

By the end of the year, the centrally-administrated SOEs extended their businesses into 127 countries by setting up or investing in 1,791 companies worldwide, MOFCOM said.