June 3, 2018 / 8:18 AM / 9 months ago

China's overseas investment portfolio worth $498 billion last year

FILE PHOTO: A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration/File Photo

BEIJING (Reuters) - Mainland China’s overseas portfolio investment rose last year to $498 billion from $360 billion at the end of 2016, with the Chinese territory of Hong Kong the prime destination, state news agency Xinhua said on Sunday.

Of that money, $304 billion was held in equity investments while the remaining $194 billion was in bond investments, Xinhua said, citing figures from the State Administration of Foreign Exchange.

Almost a third of the total was invested in Hong Kong, followed by the United States with $145 billion, and the Cayman Islands with $38 billion, it said.

Reporting by Ben Blanchard; Editing by Robert Birsel

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