Chinese firms hire 1.5 million foreign staff overseas

2017-03-12
Xinhua

BEIJING — Chinese enterprises hired some 1.5 million foreigners overseas in 2016 amid their rapid global expansion, China’s commerce minister said on March 11.

Overseas Chinese enterprises recorded $1.5 trillion in sales volume last year, bringing $40 billion of taxes to host countries, Commerce Minister Zhong Shan told a news conference on the sidelines of the annual parliamentary session.

China has always encouraged its enterprises to “go out,” the minister said, noting there are some “blind and irrational” outbound investments that require enhanced government regulation.

China’s outbound direct investment (ODI) has grown quickly in recent years, with nonfinancial ODI soaring 44.1 percent to $170 billion in 2016, official data showed.