BUSINESS China's non-financial ODI down 3.1% in January-November

BUSINESS

China's non-financial ODI down 3.1% in January-November

Xinhua

14:08, January 01, 2021

A worker checks product quality at the Hebei Xinglong Equipment Co., Ltd. in Fengrun District, Tangshan City of north China's Hebei Province, Dec. 17, 2020. (Photo: Xinhua)

China's non-financial outbound direct investment (ODI) went down 3.1% year on year in the first 11 months of the year, official data showed Thursday.

The ODI amounted to 659.36 billion yuan (about US$95.08 billion) in the period, according to the Ministry of Commerce.

Major overseas engineering projects increased. The contract value of newly signed overseas projects came in at about 1.38 trillion yuan during the January-November period, down 3.7% year on year.

China added 15.96 billion dollars of non-financial ODI into countries participating in the Belt and Road Initiative, up 24.9% year on year.

The figure accounted for 16.8% of the total ODI during the period, up 3.9 percentage points from the same period last year.

Outbound investment mainly flowed to sectors including manufacturing, wholesale and retail industries, as well as software and information technology service industries.

The ODI flowing to the manufacturing industries amounted to 15.76 billion dollars, accounting for 16.6% of the total ODI during the period.

From January to November, the ODI made by local enterprises reached 69.8 billion dollars, up by 12.2% year on year.

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