China's ODI up in 2020, ministry reports

China's total outbound direct investment last year hit $132.94 billion, up 3.3 percent year-on-year, although non-financial ODI declined slightly from 2019 to $110.15 billion, a drop of 0.4 percent according to the Ministry of Commerce on Thursday.

Chinese companies injected $17.79 billion of non-financial ODI in 58 countries participating in the Belt and Road Initiative, a surge of 18.3 percent year-on-year, ministry spokesman Gao Feng said during a media briefing.

The value of newly signed project contacts in BRI-related economies amounted to $141.46 billion, and the completed turnover was $91.12 billion, which contributed 55.4 percent and 58.4 percent respectively to the total amounts in the same period.

ODI from China registered fast growth in sectors such as leasing and commercial services, wholesale and retail, scientific research and technical services and power production and supply, according to Gao.

In 2020, ODI in the leasing and business services industry rose 17.5 percent on a yearly basis, hitting $41.79 billion. The amount for the wholesale and retail sector was $16.07 billion, with a year-on-year increase of 27.8 percent.

ODI into power production and supply, and scientific research and technical services increased 10.3 percent and 18.1 percent, respectively.