Chinese President Xi Jinping delivering his keynote address at FOCAC 8. Image via Xinhua.
Chinese foreign direct investment in BRI countries jumped 10.2% to $8.2 billion in the first five months of the year, according to new data from the Chinese government. Singapore, Indonesia and Pakistan were among the top FDI destinations in 2022. But the news wasn’t so good for Chinese enterprises. That same period saw an 18% decrease in the value of signed contracts in BRI countries. (XINHUA SILK ROAD — in Chinese)
China bought a record amount of Russian oil in June, displacing Saudi Arabia as Beijing’s top supplier for the second consecutive month. In the three-month period through May, Chinese oil buys from Russia doubled year-on-year to $18.9 billion and now account for 15% of China’s total imports. Saudi shipments, meantime, are forecast to fall to a two-year low. (REUTERS)
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