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China created over two million jobs in its overseas companies in 2020

Asia / Business and Finance

Chinese companies ranked first in the world in terms of foreign direct investment abroad last year, having invested USD 153.7 billion in foreign economies.

China created over two million jobs in its overseas companies in 2020

According to official data, in 2020, Chinese companies invested 153.7 billion US dollars in direct investments in the economies of foreign countries, and according to this indicator, the country took first place in the world for the first time.

Compared to 2019, this figure increased by 12.3%, according to a report published jointly by the Ministry of Commerce, State Statistics Office and State Office of Foreign Exchange Control of China on Wednesday.

The report notes that the country's influence in the global foreign direct investment sector continued to grow. In 2020, China accounted for 20.2% of the global volume of such investments.

By the end of last year, China's cumulative FDI reached $ 2.58 trillion, according to the aforementioned report.

By the end of 2020, Chinese investors have created 45 thousand enterprises in 189 countries and regions with their direct participation.

The report also indicates that in 2020, investments in countries along the Belt and Road increased by 20.6% year on year to $ 22.54 billion.

More than 70% of Chinese direct investment was in leasing and commercial services, manufacturing, wholesale and retail, and the financial sector, with more than $ 10 billion in each of these sectors.

In 2020, China-established overseas enterprises employed about 2.18 million local personnel, accounting for 60.6% of the total headcount of these companies.

Assuming the world will continue to be challenging and complex in 2021, China said it will continue to foster overseas enterprise development, improve epidemic prevention and control measures, and deepen high-quality BRI cooperation.

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