China’s non-financial OFDI (outward foreign direct investment) was down 0.6% YoY to RMB169.03 billion (US$24.22 billion, down 3.9% YoY) in 1Q 2020, involving 2 538 foreign enterprises in 153 countries and regions. Accomplished turnover of foreign contracted projects reached RMB195.34 billion, down 12.4% YoY (US$27.99 billion, down 15.3% YoY), while value of newly signed contracts was up 13.2% YoY to RMB386.5 billion (US$55.38 billion, up 9.4% YoY).

The non-financial OFDI in 52 countries along the Belt and Road was up 11.7% YoY to US$4.2 billion in 1Q 2020. Diversified investment areas mainly included leasing and business services (L&B, representing 39.9% of the total), wholesale and retail (W&R, 15.2%), manufacturing (13.5%) and mining (7.2%). The investment was up 39.7% YoY in the L&B industry, up 59.6% YoY in the W&R industry, up 4.2% YoY in the mining industry, but was down 38.5% YoY in the manufacturing industry.

The number of new foreign contracted projects (contract value for each of them exceeding US$50 million) was up 10 YoY to 187 in 1Q 2020, with combined value reaching US$45.74 billion (82.6% of the total value of newly signed contracts). The number of projects (each valued at US$100 million or more) was 114, up 22 from a year earlier.