China invests $10b in B&R countries in first three quarters

Published: November 02, 2019 13:45:26 | Updated: November 05, 2019 12:15:37

China's non-financial investment in countries along the Belt and Road (B&R) stood at 10.04 billion US dollars in the first three quarters, down 6.9 per cent year on year, according to the Ministry of Commerce.

The investment took up 12.4 per cent of China's total non-financial outbound investment in the same period, and it went mainly to Singapore, Vietnam, Laos, Indonesia, Pakistan, the United Arab Emirates, Thailand, Malaysia, Cambodia and Kazakhstan, reports Xinhua.

In terms of foreign contracted projects, Chinese enterprises have signed 4,906 new contracts worth $86.8 billion in countries along the B&R in the first nine months, up 18.4 per cent over the same period last year.

The new contract value accounts for 59.2 per cent of China's foreign contracted projects in the same period.

The completed turnover of foreign contracted projects in B&R countries was $55.89 billion, down 4.4 per cent from the same period last year, accounting for 54.7 per cent of the country's total completed turnover of foreign contracted projects.

Share if you like