In 2020,the COVID-19 pandemic brought a sharp drop in global cross-border direct investments. Despite this,the overall scale of China’s outward direct investment (ODI) remained relatively stable,except for some decline in the outward investment in manufacturing. It is expected that China’s ODI scale in 2021 will be basically flat or see a slight increase,and in particular,the investment in countries and regions along the “Belt and Road” will show a steady growing trend.

2020: China stayed robust in the global recession

The outbreak and widespread of COVID-19 in 2020 caused a dramatic fall in the scale of global cross-border investment. According to the Global Investment Trend Monitor report released by the United Nations Conference on Trade and Development (UNCTAD) on January 24,2021,as a result of the pandemic,the global foreign direct investment collapsed in 2020,falling by 42% to an estimated US$859 billion,from US$1.5 trillion in 2019. This was even 30% lower than the trough after the global financial crisis in 2009.