Construction workers of the Jakarta-Bandung High-Speed Railway, which is run by a China-Indonesia joint venture, walk at the construction site in Bekasi, Indonesia, Jan 21, 2023. (PHOTO / XINHUA)
BEIJING – Outbound investment of Chinese companies grew steadily in 2022, with more than 70 percent maintaining or expanding investment abroad, according to a survey released on Wednesday.
About 35.9 percent of the surveyed companies expanded abroad to reduce production and operation costs, and 32.9 percent to enhance international recognition of their brands, according to the survey
Over 80 percent of the surveyed firms are optimistic about the prospects of overseas investment, according to the survey conducted by the China Council for the Promotion of International Trade.
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The survey found that about 90 percent of the companies favor investment opportunities in member countries of the Regional Comprehensive Economic Partnership.
In terms of industry, the manufacturing sector topped the surveyed companies' investment list, the report revealed.
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Nearly 60 percent of the surveyed companies invested overseas to explore market opportunities. About 35.9 percent expanded abroad to reduce production and operation costs, and 32.9 percent to enhance international recognition of their brands, according to the survey.