China's outbound investment up 2.7% in Jan-Aug

BEIJING - China's non-financial outbound direct investment (ODI) maintained steady growth in the first eight months of the year, official data showed Tuesday.

Non-financial ODI in 159 countries and regions amounted to 493.09 billion yuan ($70 billion) in the period, up 2.7 percent year-on-year, according to the Ministry of Commerce.

During the first eight months, Chinese companies added a total of $8.97 billion of investment in 53 countries participating in the Belt and Road Initiative, accounting for 12.4 percent of the total.

The structure of outbound investment continued to improve, with investment mainly going into sectors including leasing and business services, manufacturing, as well as wholesale and retail, according to the ministry.

No new projects in real estate, sports and entertainment were reported, the ministry said.