China’s Outbound Foreign Investment for January – April Rises 0.7% YoY to Approach $33 Billion
China’s outbound foreign investment saw a slight uptick during the first four-months of 2020 as the country grappled with the COVID-19 outbreak.
Figure released by the Ministry of Commerce on 3 June indicate that during the period from January to April China’s domestic investors made non-financial direct investments of 235.08 billion yuan (approx. USD$32.97 billion), for a YoY rise of 0.7%.
These investments were directed to 3084 offshore enterprises situated in 155 different countries and regions.
This included $5.23 billion in investment in 53 Belt and Road countries, for a YoY rise of 13.4%, accounting for 15.6% of all investment during the period, and a rise of 2.3 percentage points compared to last year.
Non-financial direct investment in ASEAN totalled $3.94 billion, for YoY growth of 43.3%.
In terms of sector, foreign non-financial direct investment was mainly targeted at:
- Leasing and commercial services (37.4% share of the total, following a YoY rise of 40.4%)
- Wholesale and retail (17.4% of the total, following a YoY rise of 96.0%)
- Manufacturing (13.8%, following a YoY decline of 32.0%)
China’s new outsourcing project contract sum for the period was 458.54 billion yuan, for a YoY rise of 2.1%, while labouring staff dispatched abroad totalled 82,000, bringing total overseas labour to 787,000.
New contract projects worth over $50 million were 230 in total for the January – April period, and worth $53.8 billion in total, or 82.2% of all new contract value.