China recorded steady growth in foreign investment in the first half (S1) of 2024, according to official data published on Thursday, showing the country's heavy involvement in cooperation in the global market.

China's non-financial direct investment (ODI) rose 16.6% year-on-year to 72.62 billion dollars in the first six months of the year, according to data from the Ministry of Commerce quoted by Xinhua News Agency.

The growth rate exceeded the 12.5% increase recorded in the first quarter.

During the first six months, cooperation under the framework of the Belt and Road Initiative (BRI) proposed by China gained momentum, as ODI in the countries participating in the BRI increased by 9.2% year on year to 15.46 billion dollars.

The turnover of projects contracted abroad reached 72.25 billion dollars, an increase of 2.2%, and the value of new contracts rose by 22% to 115.5 billion dollars.

To facilitate Chinese investment in foreign countries and regions, the ministry has issued a regulation on contracting projects abroad, which came into force on July 1st of this year. It will simplify the procedures for relevant deals.

Photo: DR