Chinese companies ink more contracts along Belt and Road

BEIJING - Chinese companies signed 1,401 project contracts in countries along the Belt and Road in the first half of this year, nearly half of combined overseas contract value, official data revealed.

The contracts were worth $37.6 billion, up 16.7 percent year on year, and accounting for 43.3 percent of contracts in the period, Shen Danyang, the Ministry of Commerce (MOC) spokesman, said at a Tuesday press conference.

The Belt and Road refer to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, proposed by China in 2013 with the goal of boosting trade between Asia and Europe. The network passes through more than 60 countries and regions, with a total population of 4.4 billion.

Chinese companies signed overseas project contracts worth $86.7 billion in the first six months, representing an increase of 6.9 percent year on year, he said.