China's outbound direct investment (ODI) grew steadily last year despite external headwinds, rising by 5.2 percent year on year to 985.37 billion yuan, the Ministry of Commerce said Thursday.

In U.S. dollar terms, the period's ODI rose 0.9 percent from a year ago to 146.5 billion dollars, according to the ministry.

In 2022, China's non-financial ODI reached 785.94 billion yuan, up 7.2 percent year on year.

The completed turnover of foreign contracted projects grew 4.3 percent year on year to 1.04 trillion yuan, while the contract value of newly signed overseas projects amounted to 1.7 trillion yuan, up 2.1 percent.

Non-financial investment into countries along the Belt and Road increased 3.3 percent year on year to 20.97 billion dollars in 2022, accounting for 17.9 percent of the total non-financial ODI in the period.

Outbound investment in multiple fields logged rapid growth. Investments into the wholesale and retail sector rose 19.5 percent from a year earlier, while the manufacturing sector, leasing, and business services also reported growth momentum.