Beijing companies double Belt & Road investment

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Beijing companies have directly invested US$124 million in 19 countries and regions along the Belt and Road in the first five months of this year, more than doubling the figure in the same period of last year, according to the Beijing Municipal Commission of Commerce.

Official data showed that, from 2004 to May 2018, Beijing companies' total direct investment in 31 countries and regions along the Belt and Road have exceeded US$3.37 billion, spread across commerce service, manufacturing, construction, and other fields.

An official from the commission said on July 26 that, in an effort to further promote the companies to go global, the government will improve its business environment and protect the legal rights of Beijing companies and their international partners, leveling the playing field for substantive cooperation in multiple fields and various ways.

Over the past five years, Beijing companies have actively participated in the cooperation under the framework of the Belt and Road Initiative. According to a survey of 14 companies, they signed 598 new projects in 2017, up 27.8 percent from the previous year. The new projects were worth a combined US$8.86 billion, and the total revenues reached US$4.74 billion last year, up 41.7 percent and 21.5 percent from the previous year respectively.

In addition, these companies also strengthened their cooperation with countries and regions along the Belt and Road, as well as explored new forms of cooperation. Among the 14 companies surveyed, 11 said they are satisfied with the economic performance of trade cooperation with countries and regions along the Belt and Road, and 10 said they are confident in future cooperation with these countries and regions.

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