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Leading Official of the Department of Outward Investment and Economic Cooperation of MOFCOM on China’s Outward Investment and Cooperation of the First Quarter of 2021

In the first quarter of 2021, China’s ODI stood at RMB206.14 billion (USD31.79 billion), up by 4.6% year-on-year. To break down, our non-financial ODI decreased by 4.9% year-on-year to RMB160.81 billion (USD24.8 billion). The turnover of foreign contracted projects amounted to RMB195.31 billion (USD30.12 billion), remaining basically unchanged from the same period of last year. The value of newly-signed contracts stood at RMB347.24 billion (USD53.55 billion), down by 10.2% year-on-year. 74000 workers were dispatched overseas for labor cooperation. A total of 590000 workers were working overseas by the end of this March. Our outward investment bears the following features:

First, investment cooperation with the Belt & Road countries has grown steadily. In the first quarter, China’s non-financial ODI in the Belt& Road countries increased by 5.2% year-on-year to USD4.42 billion, accounting for 17.8% of the total ODI of the same period and up by 0.5% from the same period of last year. The value of newly-signed contracts in the Belt & Road countries amounted to USD31.34 billion with a turnover of USD17.75 billion, up by 19.4% and 12.4% respectively.

Second, investment flowing to manufacturing, information transmission and other areas has grown rapidly. The first quarter saw investment in manufacturing rise by 17.8% year-on-year to USD3.84 billion, and investment in information transmission up by 20.9% year-on-year to USD1.62 billion.

Third, outward investment by local enterprises has made headway. In the first quarter, non-financial ODI by local enterprises grew by 9.9% year-on-year to USD20.03 billion, accounting for 80.8% of the total ODI of the same period. ODI from the eastern, central and western parts increased by 7.2%, 45.6% and 6.3% respectively.

Fourth, foreign contracted projects were concentrated in the infrastructure sector. In the first quarter, the value of newly-signed infrastructure contracts overseas undertaken by Chinese companies stood at USD41.2 billion with a turnover of USD24.6billion, taking up 77% and 81.6% of the totals respectively.