金融时报《星星经济体去年对外直接投资飙升1/3》.

　　Foreign direct investment by emerging economies surged by almost a third last year as companies in China and elsewhere sought new opportunities offshore as a respite from slowing growth at home, according to new UN figures released today.联合国今日发布的数据显示，新兴经济体进行的外国直接投资去年飙升近三分之一，中国等国家的企业在海外寻求新的机遇以缓解国内增长放缓的影响。

　　The data highlight one of the big developing trends in the global economy. Once a target for multinational companies eager to invest and reap the benits of their rapid growth, emerging economies are becoming rivals to the US and Europe as a source of investment.

　　上述数据突显出全球经济的重大发展趋势之一。曾经是跨国公司急于投资和收获快速增长益处的新兴经济体，已成为一个投资来源，变成美国和欧洲的竞争对手。

　　The flow of FDI from emerging economies hit a record $484bn in 2014, an increase of 30 per cent on the year bore, according to figures compiled by the Geneva-based UN Conference on Trade and Development, or Unctad.

　　总部位于日内瓦的联合国贸易和发展会议(UNCTAD)编制的数据显示，来自新兴经济体的外国直接投资流动在2014年达到创纪录的4840亿美元，同比增长30%。

　　But that surge was driven almost entirely by Asian investors, with developing Asia accounting for $440bn in outbound investment last year and overtaking North America and Europe as the world’s biggest regional source of foreign direct investment.

　　但这种飙升几乎完全是亚洲投资者推动的，去年发展中亚洲国家的对外投资达到4400亿美元，超过北美和欧洲，成为全球最大的外国直接投资来源地区。

　　Behind that is a big shift in China in particular, said James Zhan, the head of investment for Unctad.

　　联合国贸发会议的投资主管詹晓宁(James Zhan)表示，这种飙升尤其体现出中国的重大转变。

　　Together, mainland China and Hong Kong accounted for $266bn in outbound investment in 2014, putting China second only to the US in the national league tables for foreign direct investment.

　　中国内地和香港加起来在2014年的对外投资达到2660亿美元，这让中国成为仅次于美国的第二大外国直接投资国。

　　IThat status is a rlection of a remarkable shift in China’s place in the world. A decade ago, mainland China saw 18 times more inbound than outbound investment, said Mr Zhan, but last year, for the first time, outbound investment overtook that coming into China.

　　这反映出中国在全球地位的明显转变。詹晓宁表示，10年前，流入中国内地的投资是其对外投资的18倍，但在去年，流出中国的投资首次超过流入中国的投资。

　　But slowing growth at home was also acting as an incentive for Chinese companies to look abroad, he said, and the same was true for investors from other emerging economies such as Russia. Despite the ratcheting up of sanctions and the crisis in Ukraine, Russian companies invested $56bn offshore in 2014, the same as France.

　　詹晓宁表示，国内经济增长放缓也刺激中国公司着眼于海外，俄罗斯等其他新兴体的投资者也是如此。尽管俄罗斯面临日益严厉的制裁，同时乌克兰危机持续发酵，但俄罗斯公司在2014年的对外投资仍达到560亿美元，和法国一样。

　　Investments by multinational companies in developed economies such as the EU, US and Japan were flat last year at $792bn. While there had been “modest increases” in investment by European and US companies, offshore bets by Japanese companies fell 16 per cent in 2014, according to the UN.

　　联合国的数据显示，欧盟、美国和日本等发达经济体的跨国公司的投资去年持平，为7920亿美元。尽管欧洲和美国公司的投资“温和增长”，但日本公司的对外投资在2014年下降16%。

　　The composition of investments in 2014 was also telling. More than half of the investments made in 2014 by companies from developing economies were in equity and amounted to new projects or acquisitions. However, as much as 80 per cent of the FDI outflows from companies based in developed countries were in the form of reinvested earnings and the result of record cash reserves held by their foreign subsidiaries, according to the UN figures.

　　2014年的投资构成也颇能说明问题。联合国数据显示，发展中经济体企业2014年对外投资的逾一半是用股本进行的，等同于新项目或者收购。然而，发达国家企业对外投资中有多达80%是盈利再投资以及海外子公司持有巨额现金储备的结果。

　　There are signs that investors’ confidence is increasing, Mr Zhan said. A survey by McKinsey, the consultants, due next month alongside UNCTAD’s global investment report, had found rising sentiment among companies in even developed economies, he said.

　　詹晓宁表示，有迹象显示，投资者信心正在上升。麦肯锡(McKinsey)的调查显示，就连发达经济体企业的信心也在增强。该调查的报告将于下月与联合国贸发会议的全球投资报告一起发布。