Anhui province posted a 50 percent increase in the number of newly-recorded overseas companies during the first ten months of 2018, according to the local commerce watchdog.
81 overseas companies were recorded between January and October. Meanwhile, the eastern Chinese province’s actual outbound investment surged 50 percent year-on-year to hit US$1.14 billion, data from the Bureau of Commerce of Anhui Province showed.
The value of contracts on foreign contracted projects amounted to US$ 2.45 billion, down 43.5 percent. The turnover of the projects fell 18.1% to US$2.31 billion.
The number of expatriate laborers hit 7,823, a decrease of 17.8 percent.
The province has seen a slowdown in the decline of outbound investment since it adjusted related measures. It achieved positive growth in March for the first time.
The outbound investment in the first ten months accounted for 112 percent of the annual target volume, according to the bureau.
Affected by execution cycles and financing issues of large projects, both the contract value of new foreign contracted projects and the turnover of them will continue to decline.