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China Jan-Aug outbound investment slumps 41.8 pct y/y, FDI slips 0.2 pct

BEIJING, Sept 14 (Reuters) - China's outbound, non-financial investment (ODI) fell 41.8 percent in January-August to $68.72 billion, the Ministry of Commerce said on Thursday.

But it added that "irrational" overseas investment has been effectively controlled, following a clampdown in recent months on some foreign acquisitions as part of efforts to curb speculative capital outflows that had pressured the yuan currency.

ODI fell 44.3 percent on year decline in January-July. The ministry did not give a figure for August alone.

Foreign direct investment (FDI) in China fell 0.2 percent year-on-year in January-August to 547.94 billion yuan ($83.66 billion), the ministry added.

For August, FDI rose 9.1 percent to 62.52 billion yuan.

That compares to a 1.2 percent decline in January-July.

China has pledged to further open up its economy to foreign investors, including allowing investment into previously restricted industries.

The commerce ministry said in August that China has clear advantages in attracting FDI over the medium and long-term. ($1 = 6.5496 Chinese yuan renminbi) (Reporting by Elias Glenn and Beijing Monitoring Desk; Editing by Kim Coghill)