China's outbound investment sees steady growth in Jan-July period

BEIJING - China's non-financial outbound direct investment (ODI) continued steady growth in the first seven months of the year, according to official data.

Chinese investors made $65.27 billion of non-financial ODI in nearly 4,000 overseas enterprises in 152 countries and regions from January to July, the Ministry of Commerce said. It marked a 14.1 percent increase from the same period a year ago.

ODI in countries along the Belt and Road rose 11.8 percent from a year earlier to $8.55 billion.

The structure of outbound investment continued to improve, with investment mainly in leasing and business service, retail and wholesale, manufacturing, and mining sectors. No new projects were reported in sectors such as property development, sports and entertainment.

Chinese contractors signed more agreements for large projects abroad in the first seven months. Transport, power and construction projects accounted for more than two-thirds of the total contract value, and around 85 percent of new projects saw their contract value surpass $50 million.

A ministry index that measures ODI activity each month remained stable at 192.93 in July, compared with the peak of 205.3 and low of 189.6 registered within the first seven months.