BUSINESS China's outbound investment goes up

BUSINESS

China's outbound investment goes up

Xinhua

18:54, June 03, 2020

BEIJING, June 3 (Xinhua) -- China's non-financial outbound direct investment (ODI) climbed by 0.7 percent year on year in the first four months of this year, official data showed Wednesday.

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Hundreds of domestically-made cars, which will be exported to Saudi Arabia, are parked at a port in Lianyungang, Jiangsu province, on March 14. (File photo: China Daily)

China's non-financial ODI in 155 countries and regions stood at 235.08 billion yuan (about 33.08 billion U.S. dollars) during the period, according to the Ministry of Commerce.

Chinese companies increased investment in countries participating in the Belt and Road Initiative during the first four months, adding a total of 5.23 billion U.S. dollars of new investment in 53 countries, up 13.4 percent year on year.

Non-financial ODI into ASEAN countries jumped by 43.3 percent year on year to reach 3.94 billion dollars during the period.

China's investment mainly went into sectors including leasing and business services, wholesale and retail as well as manufacturing, according to the ministry.

The value of newly signed deals rose 2.1 percent year on year to reach 458.54 billion yuan, with big projects taking the lion's share. Newly signed projects in industrial and water conservancy construction saw notable increase, data from the ministry showed. Enditem

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