China set to become net capital exporter

China's non-financial outward direct investment reached $102.9 billion in 2014, exceeding $100 billion for the first time, a 14.1 percent year-on-year rise. [Photo/IC]

China will become the net capital exporter as outbound investment is expected to exceed foreign direct investment soon, said the Vice Minister of Commerce Zhong Shan on Friday at a press conference.

The country's non-financial outward direct investment reached $102.9 billion in 2014, exceeding $100 billion for the first time, a 14.1 percent year-on-year rise, the official said.

China remains the third-largest outbound investor in the world.

"The outward investment will continue to grow faster than utilization of foreign investment, which will make China a net investor, thus marking a historic turning point," said Zhong.

According to official data, investment in the United States rose by 23.9 percent last year, and increased by 1.7 percent in the European Union.

Outward investment in the services sector grew by 27.1 percent, accounting for 64.6 percent of the total, while investment in mining dropped by 4.1 percent, representing a declined share of 18.8 percent.

"We will launch a batch of connectivity projects to support the establishement of overseas economic and trade cooperation zones," said Zhong. "Also we will expand investment in the manufacturing and services industries in the countries along the Belt and Road while conducting cooperation in energy and resources."

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Chinese economy to adapt to 'new normal'

Chinese economy will stick to its plan of seeking progress while maintaining stability in 2015, by adapting to the "new normal" of development and focusing on raising the growth quality, said Zhu Zhixin, vice chairman of the National Development and Reform Commission.

"We will maintain economic operation within the reasonable range, place more emphasis on transforming pattern and adjusting structure and strive for breakthroughs in reform."

Further reforms in major fields are planned, including continuation of cancellation of administrative approvals; deepening income distribution system reform and increasing resident's income; improving policies and measures to stabilize foreign trade, according to Zhu.

"In 2015, China's economic development still faces complicated environment both at home and abroad," he said.

"We will also continue to improve people's livelihood in 2015, through implementing more active employment policies and try to achieve more sufficient employment with better quality."

Residents' income increased faster than economic growth in 2014. The national per capita disposable income in the first three quarters was 14,986 yuan last year.