2 days ago
China's non-financial outbound direct investment up 2.3% in 5 months
BEIJING - China's total non-financial outbound direct investment (ODI) rose 2.3 percent year-on-year to $61.6 billion in the first five months, underscoring the nation's sustained efforts to deepen international cooperation, said the Ministry of Commerce on Thursday.
In the meantime, the country's non-financial ODI in countries and regions involved in the Belt and Road Initiative (BRI) reached $15.52 billion, surging 20.8 percent on a yearly basis, said He Yadong, a ministry spokesman.
According to China Daily, market watchers said that Chinese companies have already accelerated efforts to expand their presence in sectors such as manufacturing, transportation infrastructure and services across economies participating in the BRI, as well as in emerging markets in Southeast Asia, the Middle East and Africa.
China's ODI growth reflects the strong competitiveness and adaptability of its companies, especially in high-end manufacturing sectors in global markets, said Wang Zhimin, a researcher at the Academy of China Open Economy Studies, which is part of the University of International Business and Economics in Beijing.
Wang said that Chinese firms are not only investing in traditional industries, but are also increasing their footprint in fields such as electric vehicles, renewable energy and smart logistics, supporting host countries' industrial upgrading and sustainable development.
Chinese companies recorded $61.94 billion in turnover from overseas contracted projects between January and May, up 5.4 percent year-on-year. During the same period, the value of their newly signed contracts rose 13 percent to $98.68 billion, said the Ministry of Commerce.
