Chinese financial institutions invested more overseas last year than what foreign investors invested domestically, the foreign exchange watchdog said in a statement Tuesday.

Net outbound investment made by Chinese banking, insurance and securities companies amounted to US$7.1 billion last year, while overseas enterprises invested a net US$5.1 billion in financial institutions on the mainland, the State Administration of Foreign Exchange said.

By the end of 2012, the total foreign direct investment in domestic financial institutions was US$81.2 billion, up 18.2 percent from the end of 2011. Domestic financial firms invested US$77.8 billion in outbound direct investment by the end of last year, a rise of 10.5 percent from 2011, SAFE said.

Stiff competition has forced domestic financial companies, especially banks, to expand more aggressively overseas.

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