China Overseas Investment Is at Eight-Year High as Firms Build Factories Abroad

China’s overseas investment is heading for an eight-year high as its dominant firms build more factories abroad, a shift that could soften criticism of Beijing’s export drive.

Chinese companies made 243 billion yuan ($33.5 billion) in foreign direct investments from January to March, data released last week showed. That was the highest first-quarter figure since 2016 — before a crackdown on capital outflows -– and up almost 13% from a year earlier.