SOURCE / ECONOMY
Non-financial ODI up 2.3% in Jan-May, growth stable despite challenges
Published: Jun 23, 2022 05:37 PM Updated: Jun 23, 2022 05:34 PM
foreign investment
foreign investment


China's non-financial overseas direct investment (ODI) maintained stable growth in the first five months of the year with rapid growth seen in ODI to countries and regions along the Belt and Road Initiative route, though overall growth has slowed slightly in May amid economic challenges posed by recent COVID-19 outbreaks, according to data from China's Ministry of Commerce (MOFCOM) on Thursday.

In the first five months of the year, China's non-financial ODI increased about 2.3 percent year-on-year to 287.1 billion yuan ($42.92 billion), MOFCOM spokesperson Shu Jueting said during a press conference. 

The growth slowed slightly from a 2.5 percent expansion in the first four months of the year, according to data from the MOFCOM. 

Shu noted that in the first five months of this year, ODI in the wholesale and retail sectors rose 20.8 percent on a yearly basis to $8.08 billion, and investment in architecture, scientific research and technology services also grew. 

China's non-financial ODI in countries and regions along the Belt and Road Initiative route rose by 10.2 percent to $8.19 billion in the first five months, 1.2 percentage points faster compared with the corresponding period last year. 

Shu said that during the period, the turnover of China's foreign contracted projects rose by 0.5 percent year-on-year to reach 344.34 billion yuan, and the value of newly signed contracts dropped 5.4 percent to 507.2 billion yuan. 

The stability in ODI reflects China's economic strength despite recent COVID-19 outbreaks. In 2021, China's ODI rose 2.2 percent to 936.7 billion yuan, a report published by the China Council for the Promotion of International Trade showed. 

China's use of overseas capital also showed a healthy tendency. During the first five months of this year, China used 564.2 billion yuan of overseas capital, up 17.3 percent on a yearly basis, Shu noted. 

FDI in actual use in China Graphic: GT

FDI in actual use in China Graphic: GT


Global Times