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October 19, 2016

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Home » Business » Finance

China’s ODI rises 53.7% over 9 months

CHINESE companies continued to invest big overseas during the first nine months of the year, the Ministry of Commerce said yesterday.

China’s non-financial outbound direct investment surged 53.7 percent from a year ago to 882.78 billion yuan (US$131 billion) in the January-September period, said Shen Danyang, the ministry’s spokesman.

In September, China’s ODI rose 56.9 percent year on year to US$16.16 billion.

The Belt and Road initiative had boosted business cooperation between Chinese and foreign firms, Shen said.

During the first nine months, 4,191 engineering contracts were signed by Chinese companies in 61 countries along the Belt and Road routes, with combined contract value of US$74.56 billion.

Chinese firms invested US$17.9 billion in 56 economic and trade cooperation zones in 20 countries along the Belt and Road during the same period, creating 163,000 jobs for local people.

Chinese companies completed 521 overseas merger and acquisition projects during the first nine months worth US$67.44 billion, surpassing the total amount of last year. The mergers and acquisitions involved 18 industries in 67 countries and regions.


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