Beijing: China's total non-financial outbound direct investment (ODI) increased by 2.3 percent year-on-year, reaching $61.6 billion in the first five months, highlighting the nation's ongoing efforts to enhance international cooperation, as announced by the Ministry of Commerce on Thursday. The country's ODI in Belt and Road Initiative (BRI) regions climbed to $15.52 billion, marking a 20.8 percent annual increase, according to ministry spokesman He Yadong.
According to Emirates News Agency, market analysts noted that Chinese companies are intensifying their efforts to expand in sectors like manufacturing, transportation infrastructure, and services in BRI economies, as well as in emerging markets across Southeast Asia, the Middle East, and Africa.
China's ODI growth signifies the robust competitiveness and adaptability of its companies, particularly in high-end manufacturing sectors globally, stated Wang Zhimin, a researcher at the Academy of China Open Economy Studies, part of the University of International Business and Economics in Beijing. Wang highlighted that Chinese firms are diversifying their investments beyond traditional industries, focusing on areas like electric vehicles, renewable energy, and smart logistics, thereby aiding host countries in industrial upgrading and sustainable development.
Chinese companies reported $61.94 billion in turnover from overseas contracted projects from January to May, a 5.4 percent increase year-on-year. During the same timeframe, the value of newly signed contracts rose by 13 percent to $98.68 billion, as per the Ministry of Commerce.