(Source: "International Business Daily" 2024-07-02)
Arab countries, five Central Asian countries, Latin American countries... As the investment cooperation between the "Belt and Road" co-building countries in these regions and China is increasingly heating up, China's foreign investment cooperation continues to grow.
Data recently released by the Ministry of Commerce shows that from January to May, China’s foreign non-financial direct investment was US$60.2 billion, a year-on-year increase of 16.3%. The completed turnover of China's foreign contracted projects reached US$58.79 billion, a year-on-year increase of 8.8%; the value of newly signed contracts was US$87.3 billion, a year-on-year increase of 21.7%.
To this,Lv Yue, Professor at the National Institute for Opening-up and Opening-up, Executive Director of the Institute of Global Innovation and Governance at the w88 casinosaid that from the overall data, China's foreign investment data grew strongly and steadily from January to May, and foreign investment cooperation has further stabilized and achieved long-term progress. Foreign non-financial direct investment has shown rapid growth, demonstrating the trend of gradually deepening foreign investment cooperation and the positive spillover effects of China's stable economic growth.
"The growth in the turnover of completed foreign contracted projects has been relatively stable, especially the amount of newly signed contracts. This is not only the endogenous empowerment of China to form a global competitive advantage in key industries and infrastructure construction fields, but also the external stimulation of countries around the world's increased recognition of China's economy and the initiative to strengthen multilateral and bilateral investment cooperation. In the future, China's foreign investment still has relatively optimistic potential for sustained growth." Lu Yue further said.
The “Belt and Road” co-construction countries continue to lead the growth of China’s foreign investment cooperation. Data show that from January to May, non-financial direct investment by Chinese companies in countries involved in the Belt and Road Initiative reached US$12.81 billion, a year-on-year increase of 12.7%. The turnover of Chinese companies' completed national contracting projects in the Belt and Road Initiative was US$48.01 billion, a year-on-year increase of 9.5%; the value of newly signed contracts was US$69.71 billion, a year-on-year increase of 20.2%.
“From the perspective of the regional layout of foreign investment, my country’s non-financial direct investment in countries co-building the Belt and Road Initiative increased by 12.7% year-on-year, indicating that the Belt and Road Initiative is still an important destination for my country’s foreign investment, and multilateral investment cooperation with co-building countries has become a ‘ballast stone’ and a ‘booster’.” Lu Yue believes.
Among the countries co-building the “Belt and Road”, China’s investment cooperation with Arab countries is increasingly heating up. At the end of May this year, the 10th Ministerial Conference of the China-Arab States Cooperation Forum was held in Beijing. During the meeting, China proposed the future outlook for China-Arab cooperation by “building a larger-scale investment and financial structure.”
"Currently, China-Arab relations are at the best period in history, with increasingly close economic, w88 and investment cooperation. The scale of China's two-way investment in Arab countries continues to expand, with direct investment stock exceeding 30 billion US dollars, among which the number of contracted projects in Arab countries has increased significantly. "Lu Yue predicts that, driven by the China-Arab States Cooperation Forum, China will strengthen foreign investment cooperation with Arab countries in strategic emerging industries such as digital technology, artificial intelligence, aerospace and other fields, infrastructure fields such as railways, airports, ports, and renewable energy, oil and gas and other energy fields.
As countries co-building the Belt and Road Initiative, the five Central Asian countries are also hot spots for China’s foreign investment and cooperation. In recent years, China has maintained fruitful all-round cooperation with the five Central Asian countries and is focusing on building a closer China-Central Asia community with a shared future. As of March 2023, China's direct investment stock in the five Central Asian countries has exceeded US$15 billion, and the cumulative project contracting turnover has reached US$63.9 billion.
“With the establishment and improvement of exchange and cooperation mechanisms such as the China-Central Asia Cooperation Forum, China-Central Asia Summit, and Senior Officials’ Meeting on Economic and w88 Cooperation, the two sides are expected to continue to promote investment and w88 cooperation in infrastructure, oil and gas mining, processing and manufacturing, medical and health, education technology, digital economy and other fields.” Lu Yue said.
Shift your attention to Latin America. At this stage, China and Latin American countries are working together to build a China-Latin America community with a shared future. Political mutual trust and economic and w88 cooperation continue to deepen, and cooperation in infrastructure and other fields continues to reach new heights. As of the end of 2022, China's direct investment stock in Latin America reached US$596.15 billion, and the region has become the second largest destination for overseas investment by Chinese companies.
"The 10th China-Latin America Infrastructure Cooperation Forum, which was successfully held recently, is the first professional forum in the field of infrastructure under the framework of the China-Latin America Forum, and has played a positive role in promoting China-Latin America infrastructure interconnection." Lu Yue said that the forum pointed out the direction for future investment cooperation between China and Latin America, that is, China's investment cooperation in Latin America has broad prospects in the fields of large-scale infrastructure projects, key mineral development, green and clean energy, etc. In addition, industrial chain and supply chain cooperation is also a focus.
Looking to the future, Lu Yue believes that China’s “circle of friends” in foreign investment and cooperation will only become larger and more diverse. The "Belt and Road" joint construction of countries will be the main direction of China's foreign investment, and investment cooperation with Arab countries, Central Asian countries, Latin American countries, etc. is even more promising.
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