China's Jan-Apr overseas investments for BRI up 17.3%
Source: Mysteel
May 21, 2018 10:52
China’s overseas investment increased for a sixth successive month in April to $10.08 billion, according to the latest statistics released by China’s Ministry of Commerce on May 17. The ministry gave no on-year comparison but said the April result took the total for the first four months of this year to $35.6 billion, up by 34.9% on year.
The total investment was distributed among 2,459 Chinese enterprises in140 countries or regions worldwide, Mofcom said, adding that newly-added investments in countries connected with China’s ‘Belt and Road Initiative’ (BRI) stood at $4.7 billion over January-April, posting a yearly rise of 17.3%.
The continuous growth in BRI-related investments indicates that Chinese firms are increasingly venturing into new countries to open up markets for their goods and services, particularly in Eurasia and Southeast, Mysteel notes.
Thursday’s report also showed that during January-April, some 19,002 new foreign enterprises made some sort of investment in China, surging by 95.4% from one year ago. Those in April alone at 4,662 were up by 39.5% on year though Mofcom does not give a breakdown for the number of representative offices, joint ventures or manufacturing plants the total encompasses.
China is continuously deepening its market presence abroad to aid the country’s own development to the benefit of both Chinese people and those of all nations via Chines economic reform, said Mofcom spokesperson Gao Feng at a press conference in Beijing on Thursday.
The Mofcom data for the sorts of business activities where Chinese firms invested funds during January-April showed that 28.5% went into the leasing and business service industries, 16.2% into the mining sector, 14.9% into manufacturing industry, and 6.5% into the information technology sector. Mofcom reckons no Chinese funds went into the property, sports or entertainment sectors during the period. Interestingly, the statistics are the same Mofcom gave for January-March.
Written by Rebecca Zhu, rebecczhu@mysteel.net.cn
Edited by Russ McCulloch, russ.mcculloch@mysteel.com
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