China sees record outbound financial assets expansion in 2016

China saw record expansion of outbound financial assets in 2016 as domestic investors bought overseas assets.

Outbound direct investment grew by 211 billion U.S. dollars in 2016, up 12 percent, according to the State Administration of Foreign Exchange (SAFE).

Overseas securities investment grew by about 100 billion U.S. dollars, up about 30 percent, while foreign deposit, loan and trade credit more than doubled.

China continued to see strong inbound foreign direct investment, attracting about 153 billion U.S. dollars, while inbound securities investment more than quadrupled, the statement said.

The capital and financial account registered a deficit of 37.6 billion U.S. dollars in 2016 but is expected to narrow in 2017.

The SAFE expects increasing foreign investment and more rational overseas asset allocation by domestic investors.