China’s outward investment and economic cooperation in January-October maintained a sound momentum of development. Official from the Department of Outward Investment and Economic Cooperation of MOFCOM pointed out that China’s outward investment and economic cooperation in January-October has the following characteristics:
Firstly, China’s outward investment sustained a double-digital growth. In January-October, Chinese investors have made non-financial direct investment in 5,553 enterprises around 152 countries and regions, with an accumulative investment of RMB589.2 billion (equivalent to US$95.21 billion), up 16.3% year on year. In October, the direct investment registered RMB49 billion (equivalent to US$7.91 billion), up 14.3% year on year.
Secondly, the scale of newly-signed contracted projects contracts is expanding. In January-October, the number of contracted projects with a respective newly-signed contract value above US$100 million reached 307, increasing by 39 over the same period of last year. The accumulative contract value registered US$108.3 billion, taking up 72.7% of the total newly-signed contract value over the same period of time, mainly distributing in transportation, real estate, electric power project, communications and petrochemical engineering.
Thirdly, outward investment in manufacturing sustained robust growth. In January-October, Chinese investment in manufacturing reached US$9.94 billion, up 82.8% year on year, mainly in automobile, special equipment, medicine, computer/communications equipment, rubber and plastic products areas. In the first ten months, a total of US$4.487 billion flew to equipment manufacturing, going up 120.7% year on year.
Fourthly, half the outward investment flew to the China’s Hong Kong. In January-October, Chinese investors made a direct investment of US$48.2 billion in Hong Kong, taking up 50.6% of the total over the same period of time, going up 18.8% year on year. As an international financial center, Hong Kong district attracts numerous investors from the mainland which make outward investment through first establishing overseas enterprises in Hong Kong. By the end of October, the direct investment by investors from the mainland to Hong Kong district exceeded US$550 billion, half of which flew to other countries and regions since then.