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China’s outbound direct investment (ODI) increased 9.6 percent year-on-year (YoY) in the first half of 2023 to $75.4 billion, with 80 percent going into non-financial sectors, according to a report by EY.
The non-financial ODI in Belt and Road countries contributed $11.6 billion, growing by 15.4 percent YoY, South China Morning Post newspaper reported, citing the report.
The value of total overseas merger and acquisitions (M&A) deals declined to $11.7 billion, the lowest in a decade. Latin America was the top destination for M&A deals by region, ranking first for the first time in nearly a decade.
On the other hand, China’s overseas infrastructure projects fell in value terms, as the number of newly signed contracts declined 8.6 percent YoY. Most of the new infrastructure contracts came from Belt and Road countries, the report said.
(Writing by P Deol; Editing by Anoop Menon)
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