China’s outbound direct investment (ODI) in non-financial areas posted a 14.7-percent year-on-year growth in 2015, to US$118.02 billion, China’s Ministry of Commerce said on Friday.

It is the 13th consecutive year-on-year increase in ODI. Such investment has seen an average annual growth of 33.6 percent over the past 13 years, the Ministry added.

The Ministry particularly highlighted that China’s Belt and Road Initiative has become a major component of the country’s outbound investment. China’s ODI to 49 countries and regions covered by the Belt and Road Initiative totalled US$14.82 billion last year, rising by 18.2 percent year-on-year, the data said.

The initiative, first proposed by China’s President, Xi Jinping, in 2013, aims better to connect the countries along the routes and to enhance trade across Asia, the Middle East, Europe and Africa via infrastructure development.

The Ministry added that China’s ODI in advanced technology sectors such as power and communications expanded 80.2 percent from a year earlier to US$11.66 billion in 2015.