China's outbound investment continued to grow in the first half (H1) of 2023, official data showed Thursday.

The country's non-financial outbound direct investment (ODI) rose 22.7 percent year on year to 431.61 billion yuan in the first six months of the year, according to the Ministry of Commerce.

In U.S. dollar terms, the ODI stood at 62.29 billion U.S. dollars in the period, up 14.8 percent from a year earlier, the data showed.

The non-financial ODI in countries along the Belt and Road came in at 11.57 billion U.S. dollars in H1, up 15.4 percent year on year and accounting for 18.6 percent of the total.

The turnover of contracted projects overseas grew 7 percent year on year to 490.1 billion yuan, while the contract value of newly-signed projects amounted to 655.98 billion yuan, down 2.3 percent from a year earlier, the ministry said.