China's outbound direct investment (ODI) in non-financial sectors slowed dramatically in the first seven months of the year.

Chinese companies invested $27.6 billion in non-financial sectors in 117 countries and regions in the January-July period, up 3.3 percent year on year, said Shen Danyang, spokesman of the Ministry of Commerce.

The growth rate was much lower than the 34-percent increase in the first half and the 36.3 percent for 2010.

Shen said China's investment in the United States, Russia, Japan, the Association of Southeast Asian Nations and the European Union all declined in the first seven months from a year earlier, while its investment in Australia and Hong Kong soared.