Chinese enterprises' outbound investment, which has showed a strengthening trend on the whole in 2024, is expected to continue its expansion and forge closer economic ties with the world, further propping up the development of the global economy, according to a report released on Friday.
The Handbook of Country Risk 2024, released by China Export and Credit Insurance Corporation, or SINOSURE, noted that global country risks remain stable with changes this year, with eight countries listed in the report seeing risk level raising and 17 decreasing.
For some time to come, world economic growth will still face multiple pressures, according to the report.
China will continue to boost economic globalization, deepen economic and trade cooperation with other countries, and shore up the sustainable development of the world economy, said the report.
It also pointed out that China's outbound investment is expected to continue to expand, and by leveraging its industrial and resource advantages, the country will enhance global ties in agriculture, manufacturing and some other industries.
Among them, its overseas investment in agriculture is expected to be further strengthened on the basis of the newly signed free trade agreements or agreements on cooperation in inspection and quarantine of agricultural products, while manufacturing is still the dominant area for China's outbound investment.
"Chinese companies' outbound investment in agriculture can optimize resource allocation on a global scale and enrich our channels for importing agricultural products. Through overseas investment in manufacturing, we can leverage China's industrial advantages and resource advantages around the world and strengthen China's economic ties with the world," said Wang Dong, senior researcher at the Research Center of Country Risk under the SINOSURE.
From January to August of the year, Chinese companies made non-financial direct investments of 145.88 billion yuan (about 20.49 billion U.S. dollars) in countries participating in the Belt and Road Initiative, a year-on-year increase of 3.9 percent.
China's outbound investment expected to keep expanding: report
BRICS offers the hope for building a freer and fairer world order, not just empty talk, said Serbian Deputy Prime Minister Aleksandar Vulin on Thursday in the Russian city of Kazan.
Vulin highlighted the cooperative mechanism's role in multilateralism in an interview with China Global Television Network (CGTN) on the sidelines of the 16th BRICS Summit, a three-day gathering that saw the participation of the world's major emerging economies and multiple Global South countries.
He said BRICS offers a chance of peace, development and a fairer world, stressing China and Russia's determination in championing the mechanism.
"BRICS is hope. We see how determined Russia [is], how determined China [is] for the creation of a new world, a free world, a fair world without arrogance of great power, when China, which is one of the most important countries in the world, speaks so calmly and gives us courage that all these hard times will pass. China offers to the entire world, peace, offers development, offers fair trade, offers the reconstruction of the international order. And President Xi Jinping offers that hope and offers very constructive suggestions," he said.
Serbia has expressed interest in becoming a part of BRICS, which initially comprised Brazil, Russia, India, China, and South Africa, but saw its membership almost double in January this year with several new countries joining.
Vulin dismissed the rhetoric that BRICS is just a "talking club" that its expansion would only make it impossible to reach any real consensus. He cited the growing role of the New Development Bank, the multilateral bank jointly established by the BRICS states a decade ago, in financing numerous projects in developing countries around the world, including Serbia, and helping boost their economies.
"BRICS is not [just] a talking club. When you have a New Development Bank with that kind of capital, it's not just talking. It's something that can be a real alternative to the International Monetary Fund. In that kind of political climate, there is space for Serbia and space for the Serbian economy -- new railroads, new Chinese investments in Serbia, in Serbian mining companies, in Serbian industries. That's really important for us. No one from BRICS asks us nothing, just offer us, and we are very grateful for that chance," said the minister.
BRICS offers hope for building freer, fairer world order: Serbian deputy PM
