An EY report shows that in the third quarter of the year, China's outbound direct investment in all industries reached $124.4 billion, a year-on-year increase of 9% over 24 years ago.

On November 19, Ernst & Young released the "Overview of Chinese Overseas Investment in the First Three Quarters of 2024", stating that in the first three quarters of 2024, China's outward foreign direct investment continued to grow rapidly. China's total industry outward foreign direct investment reached 124.4 billion US dollars, an increase of 9% year-on-year. However, the growth in the third quarter was only 1% compared to the same period last year, with a slowdown in growth rate. Non-financial outbound foreign direct investment in the first three quarters increased by 11% year-on-year, with investment in countries participating in the Belt and Road Initiative accounting for 23%. In terms of regional distribution of Chinese outbound investment, regions such as ASEAN, the Middle East, Central Asia, and Europe are receiving increasing attention from Chinese investors due to their large market potential and relatively open policies. From an industry perspective, advanced manufacturing, the new energy vehicle industry chain, energy infrastructure investments, and technology remain popular sectors. From a geopolitical perspective, the change of U.S. presidency will be the biggest variable, bringing significant uncertainty and far-reaching impact on U.S. domestic policies and the global political and economic landscape, especially in trade, supply chain, and finance. Against this backdrop, Chinese companies with overseas operations need to closely monitor policy changes that may affect their international business, increase compliance efforts, enhance strategic resilience, and be prepared for potential challenges and opportunities in the future. Chinese companies announced a total of 20.4 billion US dollars in overseas mergers and acquisitions, a 29% year-on-year decrease; the number of announced mergers and acquisitions was 313, a 17% year-on-year decrease. However, Chinese mergers and acquisitions in Europe saw a significant increase (+40.4%), making it the only continent to see growth. Among the top ten investment destinations, six are European countries, including the United Kingdom, Germany, Ireland, Italy, Switzerland, and the Netherlands. The value of new contracts signed for overseas contracted projects reached 171.7 billion US dollars, an increase of 22% year-on-year; with completed turnover reaching 109.9 billion US dollars, an increase of 1% year-on-year. The proportion of new contracts signed and completed turnover in countries participating in the Belt and Road Initiative accounted for 80%.