Beijing August 19 2023: Chinese enterprises made non-financial direct investments totalling RMB 95.34 billion in Belt and Road countries between January and July of 2023, showcasing a robust 23.2% surge compared to the previous year.
This growth, which translates to around US$13.69 billion (a 15.3% year-on-year hike), accounts for nearly a fifth of the overall investment during the same period. These figures were disclosed by Shu Juetin, spokesperson for the Ministry of Commerce, during the routine press conference held on August 17th.
China has managed to maintain a steady upward trajectory in non-financial overseas investments; the growth rate of China’s direct investment in Belt and Road countries is notably higher than the average level, China Economic Net (CEN) reported on Friday.
Ministry of Commerce data has revealed a sustained growth in China’s foreign investments, with non-financial direct investments totalling RMB500.94 billion reflecting an 18.1% year-on-year increase (approximately USD71.93 billion, with a 10.6% year-on-year climb). Over the same period, China’s foreign contracted project earnings saw a 6.3% boost to reach RMB563.76 billion. The value of newly signed contracts tallied up to RMB746.36 billion, marking a slight 0.6% uptick year-on-year.
Chinese enterprises operating within Belt and Road countries contributed substantially, driving completed turnover from contracted projects to the tune of RMB312 billion. Newly inked contracts within the same countries reached RMB 367.23 billion constituting 55.3% and 49.2% of the total, respectively, for that period.
