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In 2020, China Signed $255.54 Billion in New Foreign Contracts

On September 9, the Ministry of Commerce published a report which stated that, in 2020, China signed US$255.54 billion in new foreign contracts with 184 countries and regions around the world. It made US$155.94 billion in contract revenue mainly in Asian and African markets.

The report also highlighted that 1) over 80 percent of the contracts were in Asia and Africa where new contracts accounted for 56 percent and 26.6 percent of the total revenue respectively. 2) Over half of the total contract revenue came from belt and road countries. In 2020, new contracts signed by Chinese companies in 61 countries along the “Belt and Road” amounted to US$141.46 billion which accounted for 55.4 percent of the total. The completed contract revenue was US$91.12 billion,  which was 58.4 percent of the total. 3) Over 75 percent of the foreign contracts are in infrastructure, architecture, electrical engineering and petrochemical. 4) The number of newly signed major foreign contracted projects increased. There were 904 major contracts worth over US$50 million, up by ten compared with 2019. Among those, 514 were contracts over US$100 million, an increase of eight compared with 2019.

Source: Central News Agency, September 9, 2021