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Chinese companies harvest more contracts along Belt and Road

Xinhua, August 19, 2015 Adjust font size:

Chinese companies signed 1,786 project contracts throughout countries along the Belt and Road in the first seven months of this year, equating almost half the value of total overseas contracts, official data revealed.

Contracts for the projects totalled 49.44 billion U.S. dollars, up 39.6 percent year on year, accounting for 44.9 percent of the total during the period, Shen Danyang, the Ministry of Commerce (MOC) spokesperson, said at a press conference on Wednesday.

The Belt and Road refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, proposed by China in 2013 with the goal of boosting trade between Asia and Europe. The network passes through more than 60 countries and regions, with a total population of 4.4 billion.

Chinese companies signed overseas project contracts worth 110.04 billion dollars in the first seven months, representing an increase of 23.7 percent year on year, he said. Endi