China's non-financial outward investment increases on “Belt and Road” Initiative
Date
7/28/2024 8:14:35 AM
(MENAFN) China's non-financial outbound direct investment (ODI) saw a significant increase in the first half of the year, rising 16.6 percent year-on-year to reach USD72.62 billion, according to official data released by the Ministry of Commerce, as reported by Xinhua news agency. This growth highlights China's expanding global economic footprint, particularly in countries involved in the Belt and Road Initiative.
Investment in Belt and Road participating countries rose by 9.2 percent, amounting to USD15.46 billion. Additionally, the volume of overseas contracted projects climbed by 2.2 percent to USD72.25 billion, while the value of newly signed contracts saw a substantial increase of 22 percent, reaching USD115.5 billion. These figures underscore the continuing importance of the Belt and Road Initiative in driving China's international economic engagements.
To further support Chinese investment abroad, the Ministry of Commerce implemented a new regulation on contracting foreign projects, effective from July 1. This regulation aims to simplify the procedures for Chinese companies, facilitating smoother and more efficient investment processes in foreign countries and regions.
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