$620m net FDI influx for financial organs in Q1

BEIJING - Overseas investors increased their stakehold in China's financial institutions in the first quarter as net direct investment inflow for these organizations hit $620 million, according to data released by the State Administration of Foreign Exchange (SAFE) on Wednesday.

Meanwhile, Chinese domestic financial institutions invested $1.55 billion in the equities of overseas enterprises, the SAFE data showed.

It was China's first quarterly report on the direct investment figure concerning China's financial institutions, and came as part of the foreign exchange regulator's efforts to increase the transparency of foreign exchange statistics.

At the end of last year, direct investment in China's domestic financial institutions by overseas investors amounted to $68.43 billion, while Chinese banks, insurers and brokerage firms invested $52.66 billion overseas, according to the SAFE.