2011-01-12 13:35

BEIJING - The total value of China's newly signed overseas contracts in 2010 increased 3 percent year-on-year to hit about $130 billion, Vice Commerce Minister Chen Jian said at a conference Wednesday.

The total turnover of China's contracted projects overseas last year surged 16 percent year-on-year to reach $90 billion, Chen said.

Chen attributed the growth of overseas contracts last year to Chinese enterprises' implementing new business models, such as Public Private Partnership (PPP) and Build-Operate-Transfer (BOT), for clients.

Chen said he is optimistic about Chinese enterprises' overseas businesses as he believes ongoing globalization, restructuring of industries worldwide and industrialization of other developing countries will bring about new contract opportunities.

However, he noted that Chinese enterprises investing overseas were confronting protectionism. In September 2008, the State Council published a regulation on China's contracted projects overseas.