The pandemic in 2020 will severely damage the world economy. To this end, the Ministry of Commerce and other relevant departments have resolutely implemented the decisions and deployments of the Party Central Committee and the State Council, closely focused on building a new development pattern, and coordinated and promoted the epidemic prevention and control of overseas enterprise project personnel and the reform and development of foreign investment cooperation. The foreign contracting project business has maintained steady development. In the whole year, the total value of newly signed contracts in 184 countries and regions around the world was 255.54 billion U.S. dollars, and the completed turnover was 155.94 billion U.S. dollars. The main features are as follows:

First, the market is relatively concentrated, with business in Asia and Africa accounting for more than 80%, newly signed contracts accounted for 56% and 26.6%, and completed turnover accounted for 57.2% and 24.6%, respectively.

The second is that the business in the Belt and Road countries accounted for more than half. In 2020, the value of new contracts signed by Chinese companies in 61 countries along the Belt and Road was US$141.46 billion, and the completed turnover was US$91.12 billion, accounting for 55.4% and 58.4% of the total over the same period. 

Third, China's foreign contracted engineering business is widely distributed. The fields of transportation construction, general construction, power engineering, petrochemicals and other fields are still the main fields, and the proportion of newly signed contracts and completed turnover is more than 75%.

Fourth, there are 904 large projects with newly signed contracts of more than US$50 million, an increase of 10 from 2019, with a total contract value of US$215.85 billion, accounting for 84.5% of the total amount of new contracts signed in 2020. Among them, there are 514 projects with hundreds of millions of dollars, an increase of 8 from 2019.

In the context of the new crown epidemic, China's foreign contracted engineering business has overcome the adverse effects of the epidemic and maintained stable development on the whole. Editor/Tian Zengpeng