China's outbound direct investment continues to grow

China's outbound direct investment has continued to grow in the first five months of this year, especially in economies involved in the Belt and Road Initiative, the Ministry of Commerce said on Thursday.

From January to May, China's outbound non-financial direct investment reached $60.2 billion, up 16.3 percent year-on-year. In particular, Chinese companies' non-financial direct investment in the countries and regions involved in the BRI amounted to $12.8 billion, up 12.7 percent on a yearly basis, according to the ministry.

Meanwhile, during the first five months, the turnover of China's foreign contracted projects reached $58.8 billion, up 8.8 percent year-on-year. The value of China's newly signed contracts in foreign countries reached $87.3 billion, up 21.7 percent year-on-year.

The turnover of China's foreign contracted projects in the economies involved in the BRI stood at $48 billion during the same period, up 9.5 percent year-on-year. The value of China's newly signed contracts in BRI economies hit $69.7 billion, 20.2 percent more than that achieved in the same period of the previous year, the ministry said.