Data released by the Ministry of Commerce on October 16 show that in the first nine months of the year, China's outbound non-financial direct investment totaled RMB 551.51 billion (equivalent to USD 78.88 billion), down 0.6% year on year, with the decline narrowing. Among this total, Chinese companies' non-financial direct investment in countries along the Belt and Road reached USD 13.02 billion, up 29.7% year on year, accounting for 16.5% of the total during the period, 4.1 percentage points higher than the previous year.
Data released by the Ministry of Commerce on October 16 show that in the first nine months of the year, China's outbound non-financial direct investment totaled RMB 551.51 billion (equivalent to USD 78.88 billion), down 0.6% year on year, with the decline narrowing. Among this total, Chinese companies' non-financial direct investment in countries along the Belt and Road reached USD 13.02 billion, up 29.7% year on year, accounting for 16.5% of the total during the period, 4.1 percentage points higher than the previous year.
Commenting on China's outbound investment and cooperation in the first three quarters, an official from the Department of Outward Investment and Economic Cooperation of the Ministry of Commerce said that from January to September, the value of newly signed contracts in overseas contracted projects reached RMB 1,050.43 billion (equivalent to USD 150.24 billion), up 4.5% year on year, while completed turnover amounted to RMB 638.13 billion (equivalent to USD 91.27 billion), down 8.8% year on year. A total of 208,000 workers were dispatched under outbound labor service cooperation, and 635,000 workers were employed abroad at the end of September. Overall, China's outbound investment and cooperation in the first nine months showed five main characteristics.
Investment and cooperation in countries along the Belt and Road progressed steadily. From January to September, newly signed contracted project value in BRI countries reached USD 83.71 billion, and completed turnover reached USD 53.13 billion, accounting for 55.7% and 58.2% of the respective totals for overseas contracted projects during the period.
Outbound investment by local enterprises grew relatively quickly. In the first nine months, outbound non-financial direct investment by local enterprises reached USD 57.08 billion, up 13.5% year on year, accounting for 72.4% of total outbound direct investment during the period. Among this, outbound investment from eastern regions reached USD 47.34 billion, up 18.7% year on year, while outbound investment from western regions reached USD 4.45 billion, up 17.1% year on year.
Outbound investment in certain sectors grew notably. From January to September, outbound non-financial direct investment mainly flowed into leasing and business services, manufacturing, wholesale and retail. Among these, investment in leasing and business services reached USD 30.93 billion, up 18.6% year on year, and investment in wholesale and retail reached USD 12.01 billion, up 41.1% year on year.
There were a relatively large number of newly signed large overseas contracted projects. In the first nine months, 518 projects with a newly signed contract value of over USD 50 million were signed, with a combined value of USD 124.88 billion, accounting for 83.1% of the total newly signed contract value. Among them, 301 projects were worth over USD 100 million, 10 more than the previous year.
Overseas contracted projects in some industries showed sound momentum. From January to September, newly signed contract value in general construction, petrochemical, and water conservancy construction projects grew rapidly. Among them, newly signed contract value in general construction reached USD 35.93 billion, up 31.8% year on year; petrochemical projects reached USD 13.09 billion, up 46.9% year on year; and water conservancy construction projects reached USD 3.84 billion, up 65.5% year on year.