CHINA-ECONOMY: CHINA'S COMMERCE MINISTRY REPORTS LARGEST FIRST HALF DROP IN NUMBER OF CONTRACTS SIGNED BY CHINESE OVERSEAS CONSTRUCTION COMPANIES
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Caixin (August 12) reported that the value of Chinese companies’ new overseas construction
deals fell in the first half of this year, as the continued impact of the Covid pandemic and rising
geopolitical risks weighed on the global construction industry. Data released by the Ministry
of Commerce (MOFCOM) on August 1, showed that new contracts inked by Chinese firms
fell 6.2% year-on-year to $103.6 billion, marking the largest first-half drop since 2018.
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