China's outbound investment surged in the first half year despite hardships in foreign trade development, Commerce Minister Chen Deming said at a forum in Shanghai over the weekend. "The complexity of the external economic environment has posed serious challenges to China's foreign trade and economic development," Chen said. "However, Chinese companies are 'going out' at a faster pace. They've spent US$35.4 billion in overseas ventures in the first half year, up 48 percent from the same period last year, among which transnational mergers and acquisitions accounted for one third of the total outbound investment.
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