Published: 15:20, May 20, 2022 | Updated: 17:09, May 20, 2022
China's trade with Belt and Road countries sees robust growth
By Xinhua

Builders from China Tiesiju Civil Engineering Group operate a girder erection machine to lift a box girder on an 84-meter-long steel truss bridge on the Jakarta-Bandung High-speed Railway, Indonesia, on Nov 25, 2021. The Jakarta-Bandung HSR, jointly built by China and Indonesia, is a landmark project of the Belt and Road Initiative, as well as a national strategic project in Indonesia. (PHOTO PROVIDED TO CHINA DAILY)

BEIJING - China's economic and trade ties with countries along the Belt and Road have strengthened significantly over the past decade, an official said Friday.

"Despite the protracted COVID-19 pandemic and complicated international situation, the building of the Belt and Road Initiative continues to demonstrate strong resilience and vitality, injecting strong impetus into global openness and cooperation and world economic recovery," Sheng Qiuping, vice-minister of commerce, told a press conference.

From 2013 to 2021, China's direct investment in countries along the Belt and Road totaled $161.3 billion, while 32,000 enterprises were established in China by these countries, with a combined investment of $71.2 billion

From 2013 to 2021, the annual trade volume between China and countries along the Belt and Road expanded from $1.04 trillion to $1.8 trillion, marking an increase of 73 percent, Sheng said.

During this period, China's direct investment in countries along the Belt and Road totaled $161.3 billion, while 32,000 enterprises were established in China by these countries, with a combined investment of $71.2 billion, Sheng added.

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China signed new contracts worth about $1.08 trillion with countries along the Belt and Road in the period for engineering projects in transportation, electricity and other areas, he said.

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In the first four months of this year, China's imports and exports with countries along the Belt and Road jumped 15.4 percent year-on-year to 3.97 trillion yuan (about $588 billion), 7.5 percentage points higher than the overall growth of China's foreign trade, said Wang Lingjun, deputy head of the General Administration of Customs.