China’s Non-financial Outbound Direct Investment (ODI) went down by 2.6 percent year on year in the first eight months of the year, data showed on Thursday. The ODI amounted to 480.45 billion yuan (68.48 billion U.S. dollars) in the period, according to the Ministry of Commerce.

Investment in countries along the Belt & Road surged by 31.5 percent year on year, accounting for 17.2 percent of the total ODI during the period. The share was up by 4.8 percentage points from the same period last year.

Major overseas engineering projects increased. The contract value of newly signed overseas projects came in at 946.94 billion yuan during the Jan.-Aug. period, up by 7.3 percent year on year.

Outbound investments from local enterprises have risen. From January to August, the ODI made by local enterprises reached 49.27 billion dollars, up by 5.1 percent year on year, accounting for 71.9 percent of the total ODI in the period.

The ODI from provincial-level regions along the Yangtze River Economic Belt reached 22.05 billion dollars, up by 13.1 percent year on year.

Major overseas projects also increased. The number of newly signed overseas projects with a contract value exceeding 50 million dollars came in at 462 in the first eight months, 265 of which had a contract value above 100 million dollars, up by 7 from the same period last year.

Also Read: China’s Outbound Investment to Continue …