China’s outbound investment in BRI partners grows in first four months of 2020

Source:Global Times Published: 2020/6/3 16:58:40

China's Ministry of Commerce (MOFCOM) spokesperson Gao Feng at the press conference on Thursday Photo: MOFCOM website

 China's outbound direct investment in the countries involved in the Belt and Road Initiative (BRI) increased more than 13 percent in the first four months of 2020, despite the grim outlook on the global economy under the shadow of the spreading coronavirus pandemic. 

According to a Ministry of Commerce (MOFCOM) press conference on Wednesday, China's direct investment in the non-financial sectors of the 53 BRI partner countries was $5.23 billion from January to April, up 13.4 percent year-on-year. 

The investment accounted for over 15 percent of China's total investment during the period. 

China's investment in the non-financial sectors of the Association of Southeast Asian Nations (ASEAN) increased more than 43 percent to $3.94 billion in the first four months. 

China's total direct investment in non-financial sectors in more than 155 countries and regions increased 0.7 percent year-on-year in the first four months, hitting 235 billion yuan ($33.07 billion), according to MOFCOM. 

Most investment went into the leasing and business services, accounting for 37.4 percent of the total. And, 17.4 percent of investment was in wholesale and retail, with 13.8 percent invested in manufacturing sector, MOFCOM said. 

Posted in: ECONOMY

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