In 2005, the completed business volume of China's contracted projects overseas grew 24.6 percent year on year to 21.76 billion U.S. dollars, the Ministry of Commerce said on Friday.

Meanwhile China newly signed overseas project contracts worth 29.6 billion U.S. dollars, up 24.2 percent year on year.

China's contracted overseas projects in 2005 were mainly located in Asia and Africa, accounting for 48 percent and 31 percent of the total business volume.

Most contracted projects completed in 2005 were in Hong Kong, Sudan, Algeria, Nigeria and Singapore, the ministry said.

In terms of business volume, 27.6 percent of China's contracted overseas projects were in housing construction sector, 14.7 percent in transport industry, 13 percent in petrochemical industry, 11.9 percent in electronic telecommunication industry and 9.9 percent in power industry during the year.

By the end of 2005, the total business volume of overseas contracted projects completed by China reached 135.8 billion U.S. dollars, with signed volume of 185.9 billion dollars.

Source: Xinhua