China Jan-Sept outbound invesmtent slumps nearly 42 percent

BEIJING, Oct 17 (Reuters) - China's non-financial outbound direct investment (ODI) fell 41.9 percent in January-September from a year earlier to $78.03 billion, the Ministry of Commerce said on Tuesday.

For September alone, ODI plummeted 42.5 percent on-year to $9.31 billion, according to Reuters calculations. That pointed to a further worsening from August, when it sank 24.8 pct decline.

The commerce ministry did not give out a September figure.

China says it continues to encourage genuine overseas deals but has vowed to limit overseas investment in property, hotels, entertainment, sports clubs and film industries which it suspects is more speculative and aimed at circumventing the country's tight capital flow controls. (Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)