China invests $4b in Belt and Road countries in four months

Jin Liqun, president of the Asian Infrastructure Investment Bank, speaks at the annual board meeting of the Asia News Network held at China Daily in Beijing, May 31, 2016. [FengYongbin/chinadaily.com.cn]

China's non-financial outbound direct investment in 45 countries related to the Belt and Road Initiative over the first four months of 2017 has reached $3.98 billion (27.4 billion yuan), an official from the Ministry of Commerce said on Wednesday.

The number accounted for 15.1 percent of the country's total outbound investment from January to April, up from 8.2 percent in the same period last year, the official said.

During this period, China has invested more than $100 million in 12 countries along the Belt and Road such as Singapore, Laos and Indonesia.

Statistics from the ministry indicate that the direct investment in the Belt and Road countries such as Pakistan, Sri Lanka, Laos and Cambodia from January to April saw a year-on-year increase of 1674.14 percent, 809 percent, 241.3 percent and 62.74 percent, respectively.

Meanwhile, China has signed 1,862 foreign contracted projects and recorded about $18.95 billion turnover with a 5.6 percent year-on-year increase.

China has become the largest source of foreign capital in countries such as Laos, Cambodia, Pakistan and Uzbekistan, according to the ministry.