Domestic investors made $104.48bn of non-financial outbound direct investment (ODI) in 5,213 overseas enterprises in 157 countries and regions from January to November, according to the Chinese Ministry of Commerce.
The ODI in the period was similar to the previous year’s, an official from the ministry’s department of outward investment and economic co-operation said on 14 December.
In the first 11 months, $185.31bn of engineering contracts and a turnover of $138.01bn were seen, the same as last year.
“Steady progress was seen in investment in and co-operation with Belt and Road countries”
China’s outward investment and co-operation yielded fruitful results in the first 11 months. Steady progress was seen in investment in and co-operation with Belt and Road countries.
ODI in 56 countries along the Belt and Road rose 4.8 percent year on year to $12.96bn during the period.
The structure of outbound investment continued to improve and irrational investment was effectively contained.
The investment from China mainly went to industries such as leasing and business services, manufacturing, mining, and retail and wholesale sectors, accounting for 38.2 percent, 15.7 percent, 8.2 percent and 8.5 percent respectively of the total investment.
No new projects were reported in sectors such as property development, sports and entertainment.
In the first 11 months, Chinese enterprises carried out cross-border mergers and acquisitions in an orderly manner, and continuously innovated in investment methods.
“China’s exports driven by overseas projects amounted to $15.53bn in the first 11 months”
There were 330 cross-border mergers and acquisitions, conducted in 52 countries and regions across the globe, realising an actual transaction volume of $62.24bn in total.
Positive achievements were made in the construction of co-operation zones, and mutual benefits and win-win results were yielded.
By the end of November, China had set up 113 overseas economic and trade co-operation zones in 46 countries with a total investment of $42.14bn, creating 302,000 local jobs.
The signing of new major foreign projects undertaken by Chinese companies in the first 11 months boosted China’s exports and the economic and social development of the host countries.
In the first 11 months, 47 foreign projects worth more than $500bn were signed, providing 823,000 jobs for local residents.
China’s exports driven by overseas projects amounted to $15.53bn in the first 11 months, an increase of 13 percent year-on-year.