Anhui’s outbound investment up 10.2% in Q1

Updated:Apr 28,2022 15:01 PM

Anhui's outbound investment reached $580 million in the first quarter of 2022, up 10.2 percent from the same period a year ago, said the Department of Commerce of Anhui Province.

From January to March, the province gave the nod to the establishment of 25 enterprises and institutions overseas, with a total investment of $110 million.

Meanwhile, local contractors signed $1.69 billion worth of agreements for overseas projects, representing a year-on-year surge of 257.4 percent. They posted a 1.5 percent drop in the turnover of contracted projects though.

The number of expatriate workers hit 1,399, down 30.8 percent year-on-year, according to the department.

Anhui’s investment in countries and regions involved in the Belt and Road Initiative reached $240 million in the Jan-Mar period, up 380 percent from the same period a year earlier.

The value of new contracted projects in the BRI countries and regions soared 370 percent to $1.25 billion in the first quarter.

The province's investment in Asia made up 73.7 percent of the total, while that in Europe accounted for 20.8 percent.

Anhui-based enterprises pushed ahead with contract projects abroad during the first quarter despite the COVID-19 pandemic. Four contracts signed in the first quarter of this year were worth more than $100 million each, compared to none during the same period last year.