China's outbound direct investment (ODI) was up 5.2% YoY to RMB985.37 billion in 2022 (up 0.9% YoY to US$146.5 billion), with non-financial ODI rising 7.2% YoY to RMB785.94 billion (up 2.8% YoY to US$116.85 billion). Accomplished turnover of foreign contracted projects reached RMB1.04 trillion, up 4.3% YoY (US$154.99 billion, basically the same as last year), and value of newly signed contracts was up 2.1% YoY to RMB1.7 trillion (US$253.07 billion, down 2.1% YoY).

Non-financial outbound investment to countries involved in the Belt and Road initiative amounted to US$20.97 billion, up 3.3% YoY and accounting for 17.9% of China’s total. Further, accomplished turnover of contracted projects in such countries reached US$84.94 billion, and value of newly signed contracts was RMB129.62 billion, taking up 54.8% and 51.2% of the total, respectively.

A total of US$21.1 billion (up 19.5% YoY) went to wholesale and retail in 2022, US$21.6 billion (up 17.4% YoY) to manufacturing, and US$38.76 billion (up 5.8% YoY) to leasing and business services. Local enterprises invested US$93.92 billion (up 13.1% YoY).