Report details China's foreign contracted projects

The Ministry of Commerce issued a report on China's foreign contracted projects in 2020 on Thursday, demonstrating the country's steady development of foreign investment and cooperation amid challenges brought by the pandemic.

In 2020, China signed new contracts with 184 countries and regions . The value of the newly signed contracts reached $255.5 billion, and the accomplished turnover of the contracted projects totaled $155.9 billion.

According to the report, in 2020 China's foreign contracted projects were mainly centered in Asia and Africa, with business taking up over 80 percent. The ratios of the value of newly signed contracts in Asia and Africa accounted for 56 and 26.6 percent respectively, while that of the accomplished turnover of the contracted projects were 57.2 and 24.6 percent respectively.

In 2020, China also signed contracts with 61 economies related to the Belt and Road Initiative. The value of the newly signed contracts reached $141.5 billion, and the accomplished turnover of the contracted projects was $91.1 billion, taking up 55.4 and 58.4 percent of the total respectively.

"The industries involved in China's foreign contracted projects were diversified. The main sectors include transportation construction, general construction, power engineering and petrochemicals. The ratios of the value of the newly signed contracts and the accomplished turnover of the contracted projects in the sectors both surpassed 75 percent," said Shu Yuting, the ministry's newly appointed spokeswoman.

There were 904 newly signed projects with value above $50 million, 10 more than the previous year. Total value of the projects was $215.9 billion. Among them, 514 were projects valued at over $100 million, eight more than 2019, the ministry said.