China’s Outbound Investment is estimated to reach more than 740 billion U.S. dollars during the 13th Five Year Plan period (2016-2020), with an annual average of 148 billion U.S. dollars, the Ministry of Commerce said on Saturday.

China ranks among the top three in outward foreign direct investment in the world

The outbound investment has led to positive contributions to the high-quality cooperation in joint construction of the Belt & Road, and also to socio-economic development and the general interests of the nation, according to the Ministry.

According to Official Statistics, China had set up over 44,000 Enterprises abroad in 188 Countries and Regions by the end of 2019, with 2.2 trillion U.S. dollars worth of foreign investment, ranking the third in the world.

China has signed a total of 202 agreements on cooperation in joint construction of the Belt & Road with 138 Countries and 31 International Organizations.

The investment cooperation with countries along the Belt & Road Routes increased steadily with the accumulated amount of investment therein exceeding 90 billion U.S. dollars in the 2016-2020 period, with newly-signed contracts on foreign projects valued at 670 billion U.S. dollars so far in the five-year period.