China has reported steady growth in its overseas investments during the first half (H1) of 2024, signaling the country’s deepening engagement in global markets. Official data released on Thursday by the Ministry of Commerce showed a significant increase in non-financial outbound direct investment (ODI).
According to the data, China’s non-financial ODI reached $72.62 billion in the first six months of the year, marking a 16.6 percent year-on-year increase. This growth rate surpasses the 12.5 percent rise recorded in the first quarter, indicating an accelerating trend.
Investment under the Belt and Road Initiative (BRI), a key focus of China’s international cooperation, also saw substantial growth. ODI in countries participating in the BRI surged by 9.2 percent year on year to $15.46 billion.
Additionally, the turnover of contracted overseas projects amounted to $72.25 billion, a 2.2 percent increase, while the value of new contracts soared by 22 percent to $115.5 billion.
To further facilitate Chinese investment abroad, the Ministry of Commerce issued new regulations on the contracting of overseas projects, which took effect on July 1 this year. These regulations aim to streamline procedures and support businesses in expanding their global reach.
Reference(s):
cgtn.com
