China has witnessed a remarkable surge in overseas investment during the first half of 2024, signaling a robust engagement in the global market. Official data released by the Ministry of Commerce on Thursday revealed that China's non-financial outbound direct investment (ODI) climbed by 16.6 percent year-on-year, reaching $72.62 billion in the initial six months of the year.
This impressive growth rate surpasses the 12.5 percent increase recorded in the first quarter, highlighting China's accelerated investment efforts abroad. A significant contributor to this uptick is the Belt and Road Initiative (BRI), under which ODI in participating countries saw a 9.2 percent year-on-year rise, totaling $15.46 billion.
Furthermore, the turnover of contracted overseas projects experienced a modest increase of 2.2 percent, amounting to $72.25 billion. More notably, the value of new contracts surged by a substantial 22 percent, reaching $115.5 billion. These figures underscore China's expanding footprint in international markets and its commitment to fostering global economic cooperation.
To streamline and facilitate Chinese investments in foreign countries and regions, the Ministry of Commerce introduced a new regulation on the contracting of overseas projects, effective from July 1 this year. This regulation aims to simplify procedures for businesses involved in international investments, further boosting China's outbound investment activities.
Reference(s):
cgtn.com
