In 2005, China expedited the implementation of "Going global" strategy and various industries turned a good momentum of development. In Jan. through Nov., non-financial overseas direct investment amounted to US$5.65 billion, turnover of overseas project contracting were US$17.86 billion, up by 23.4% on a year-on-year basis, and value of newly signed contracts reached US$25 billion, up by 20.5%. Turnover of overseas labor service cooperation were US$4.11 billion, up by 30.7%, value of newly signed contracts were US$3.5 billion, up by 18.6%. Number of dispatched laborers was 220 thousand, over 10 thousand more than that in the previous year. At the end of November, total 560 thousand Chinese labors were dispatched overseas, 29 thousand more than that in the previous year.

In the first 11 months in 2005, characters of development of China's "Going Global" strategy were the following:

1, Market diversification kept on making effects and Asia ranked top one, therefore, Asia was the biggest market of Chinese enterprises to go out. Foreign Economic Cooperation Business was distributed to about 200 countries and regions. 66% in overseas direct investment, 42% in overseas project contracting and 54% in overseas labor service cooperation focused in Asia. Increase rate in overseas direct investment to North America, Oceania, Africa and Asia was bigger than 80% and in overseas project contracting and labor service cooperation was bigger than 60%.

2, An all-dimensional, multi-layered and wide-ranging pattern of "Going Global" strategy gradually formed. Large central and local enterprises maintained playing a leading role, private enterprises became the powerful army of "Going Global". Information and communication, mining and manufacture became major industries in overseas direct investment, accounting for 90% of total overseas investment, 77.9% of overseas project contracting focused on construction, transportation, electronic communication, Petroleum, Chemical and electronic power industry. 86.7% of overseas labor service cooperation focused on industrial manufacture, construction, farming, forestry, animal husbandry and fishing, and transportation etc.

3, Merger and acquisition were major forms of foreign investment. In the first 11 months in 2005, investment in overseas merger and acquisition accounted for 54.7% of total overseas direct investment, covering areas of telecommunication, automobiles, resources exploitation. Investment in overseas processing trade accounted for 42% of total investment, focusing on fields of light industry, machinery, construction material, electronics, textile and garments. And investment in other overseas business accounted for 4.2%.

4, Big and oversized projects increased and content of technology was improved. Total investment of projects with investment of over US$10 million amounted to US$4.31 billion, accounting for 62.6% of total investment, and number of newly signed projects in overseas project contracting with investment of over US$50 million was 91 and total commitment reached US$11.8 billion, accounting for 47.2% of value of newly signed contracts, investment of 39 projects exceeded US$100 million.

5, Function of "Going Global" strategy to promotion of national economy and development of foreign relations is becoming more and more obvious.

6, Support and Promotion System for "Going Global" Strategy was further improved.

In 2005, the Ministry of Commerce cooperated with relative departments and local commercial administrative departments at all levels to draw out and take a series of political measures to actively promote enterprises to launch foreign trade and economic cooperation.

First, to enhance and perfect the promotion system of "Going Global" on enterprises;
Second, to improve the supervision and guarantee system of "Going Global";
Third, to perfect the service system of "Going Global".
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