Xiamen in East China's Fujian province invested in 127 overseas projects in 23 countries in 2021 with the signed contract value totaling $4.41 billion, up 210.9 percent from 2020, according to statistics from the city's commerce bureau.
Among them were 30 projects in countries involved in the Belt and Road Initiative, most of which are ASEAN countries. The combined signed investment amount was $78.34 million and the projects mainly revolved around the manufacturing, wholesale and retail sectors.
During the period, Xiamen also saw diversified investment modes such as replaced equity emerge and an increasing number of outbound investments by fund companies and partnerships.
Statistics also showed that by the end of 2021, Xiamen had registered 1,708 outbound investment projects with the signed contract value totaling $26.49 billion.
In addition, Xiamen completed much more foreign assistance projects in 2021 compared with the previous year. The total contract volume increased from 8 million yuan ($1.26 million) in 2020 to 76 million yuan in 2021.
The city also undertook foreign assistance projects as a general contractor for the first time last year.
Meanwhile, the Xiamen Maritime Silk Road Fund, which is China's first locally driven cross-border investment fund, invested a combined 90 million yuan in three projects revolving around smart consumption equipment manufacturing, integrated circuit design and information technology service sectors, signposting Xiamen's efforts of opening up its economy to the outside world.
China announced and implemented on May 15 a policy allowing visa-free entry of foreign tourist groups aboard cruise ships via all cruise ship ports along the country's coastline.
China and Georgia are set to waive visa requirements for travelers starting May 28.
