How to interpret negative values for FDI flows and positions?

Negative values in transactions may indicate disinvestment in assets or discharges of liabilities. In the case of equity, the direct investor may sell all or part of the equity held in the direct investment enterprise to a third party; or the direct investment enterprise may buy back its shares from the direct investor thereby reducing or eliminating its associated liability. If the financial movement is in debt instruments between the direct investor and the direct investment enterprise, it may be due to the advance and redemption of inter-company loans or movements in short term trade credit. Negative reinvested earnings indicate that, for the reference period under review, the dividends paid out by the direct investment enterprise are higher than current income recorded (if that is the decision of the board of managers) or that the direct investment enterprise is operating at a loss.

The changes in FDI positions are affected by the accumulated flows and hence may also result in negative values, but mainly for other capital (e.g. when the loans from the direct investment enterprise to the parent exceed the loans – or even the original capital – given by the parent to the direct investment enterprise. It could be the case where conduits or treasury companies are involved).  This is particularly important when FDI statistics are presented on a directional basis given the significance of inter-affiliate transactions and positions in debt.

链接：http://www.oecd.org/daf/inv/inve ... yaskedquestions.htm

FDI flow为流量，表示当年FDI额度。

FDI stock=FDI position，为存量。

至于出现负值的原因，上文解释的比较清楚，可以直接看看>< 大概原因有讲到可能直接投资方将股份卖给了第三方，或者被投资方从投资方买回部分股份。从而使额度出现了负值。