Beijing: China’s outbound investment rose steadily last year, according to the Ministry of Commerce.

China’s non-financial outbound direct investment (ODI) increased 16.7 percent year on year to 916.99 billion yuan in 2023.

In U.S. dollar terms, ODI totaled 130.13 billion dollars in this period, up 11.4 percent from a year earlier.

Non-financial ODI in countries participating in the Belt and Road Initiative came in at 224.09 billion yuan last year, an increase of 28.4 percent year on year.

The turnover of contracted projects overseas grew 8.8 percent year on year to 1.13 trillion yuan in 2023, the ministry said.