* Nov non-financial ODI rises 76.5 pct y/y to $15.7 bln
* Jan-Nov non-financial ODI up 55.3 pct y/y to 1.07 trln
* Rise in outbound deals comes as Beijing steps up checks of
(Adds context, analyst comment)
BEIJING, Dec 15 China's outbound investment in
November rose 76.5 percent from a year earlier to $15.7 billion,
the commerce ministry said on Thursday, as Chinese firms
continued to invest abroad amid a slowing economy and weakening
November's amount was higher than the $11.76 billion in
outbound investments in October but lower than September,
according to a Reuters calculation.
Beijing has announced a string of measures recently to
tighten controls on money moving out of the country, including
closer scrutiny of outbound investments, as the yuan skids and
the country's foreign exchange reserves fall to the lowest
levels in nearly six years.
The renminbi fell to its weakest in 8-1/2 years on Thursday
after the U.S. Federal Reserve signalled a faster pace of rate
hikes, raising concerns of more curbs from Beijing to temper the
risk of destabilising capital outflows.
Regulators have stepped up checks of outbound investments,
Reuters reported on Nov. 29, including vetting transfers abroad
worth $5 million or more and increasing scrutiny of major
outbound deals, even those with prior approval.
Ping An Insurance Group Co of China Ltd
, the country's second-largest insurer, has seen some
of its overseas investments affected by Beijing's measures to
stem capital outflows, its group chief financial officer (CFO)
said on Friday.
The Chinese government has said recently it will step up
scrutiny of deals, but that it supports legitimate deals and
will maintain its "going out" strategy.
"The policy (to increase oversight of deals) is there, but
the demand for corporates to diversify their investments is
still strong. I still expect (overseas investment) to keep
growing next year," said ANZ economist David Qu in Shanghai.
From January-November, non-financial outbound direct
investment rose 55.3 percent to 1.07 trillion yuan ($154.3
billion) from the same period a year earlier.
Foreign direct investment (FDI) into China rose 3.9 percent
to 731.8 billion yuan in the first 11 months of this year from
the same period a year earlier, the commerce ministry said.
($1 = 6.9354 Chinese yuan)
(Reporting by Yawen Chen and Elias Glenn; Editing by Jacqueline