China releases report on foreign contracted projects

The contract value of China's foreign contracted projects reached US$255.54 billion in 2020, while business turnover stood at US$155.94 billion, said a report released by the Ministry of Commerce (MOC) Thursday.

The value of contracts newly signed between China and 61 countries along the Belt and Road stood at US$141.46 billion last year, accounting for 55.4 percent of the total contract value, the MOC spokesperson Shu Jueting told a press conference.

During the period, China recorded a business turnover of US$91.12 billion with these countries, representing 58.4 percent of the country's total business turnover from foreign contracted projects.

Geographically, business in Asia and Africa took up more than 80 percent of China's foreign contracted projects in 2020, Shu said.

The country's foreign contracted projects spread in various industries, with focuses on transport, construction, power engineering, and petrochemical sectors, the spokesperson added.