2025年上半年中国海外投资概览报告-EY安永

Economic Overview - In the first half of 2025, China's economy demonstrated strong resilience with a GDP growth of 5.3% year-on-year, and total foreign trade reached a record high for the same period [1][9] - The strategy of "strengthening domestic demand" and "high-level opening up" has supported enterprises' globalization amidst global economic fluctuations [1][9] Foreign Direct Investment (FDI) - Total foreign direct investment (FDI) from China amounted to $80 billion, a decrease of 6.2% year-on-year; non-financial FDI was $72.2 billion, down 0.5% [11][23] - FDI in countries participating in the "Belt and Road" initiative saw a significant increase of 20.7%, reaching $18.9 billion, accounting for 26% of total non-financial FDI [11][23] Overseas Mergers and Acquisitions (M&A) - Chinese companies announced overseas M&A deals totaling $19.6 billion, marking a substantial increase of 79% year-on-year; however, the number of transactions decreased by 7% to 200 [12][27] - Notably, large transactions exceeding $500 million rose from 6 to 14 [12][27] - M&A activity in "Belt and Road" countries reached $10.1 billion, nearly doubling from the previous year, accounting for 52% of total M&A [12][27] Sector and Regional Highlights - The TMT (Technology, Media, and Telecommunications), mining and metals, and advanced manufacturing and transportation sectors were the most active in M&A, comprising 72% of total deal value, with TMT alone accounting for approximately 42% [28] - Asia remained the top destination for Chinese overseas M&A, with a 162% increase in deal value; Latin America saw a staggering 620% growth, while North America grew by 80% [28] - In contrast, M&A activity in Europe declined in both value and number [28] Infrastructure and Engineering Projects - The value of foreign contracted projects reached $129.9 billion, an increase of 12.4%; contracts signed in "Belt and Road" countries amounted to $113.4 billion, up 19.6% [2][21] - Key projects included energy, municipal transportation, and construction infrastructure, such as the Iraq natural gas processing plant by China National Petroleum and the Saudi King University relocation project by China Railway Construction [2][21] Conclusion - The data indicates a strategic shift in China's overseas investment landscape, with a focus on resilience and growth in specific sectors and regions, particularly in the context of the "Belt and Road" initiative, while facing challenges in traditional markets like Europe [1][2][11][12][28]