BEIJING — China's non-financial outbound direct investment (ODI) rose 1.8 percent year-on-year during the first two months, the Ministry of Commerce said on March 26.

Non-financial ODI stood at 107.86 billion yuan (about $15.5 billion) in the first two months, data showed.

Chinese companies increased investment in countries participating in the Belt and Road Initiative during the first two months, adding a total of $2.72 billion of new investment in 48 countries, up 18.3 percent year-on-year.

China's investment mainly went into sectors including leasing and business services, wholesale and retail, manufacturing and mining, according to the ministry.

The value of newly signed deals rose 38.3 percent year-on-year to reach 215.03 billion yuan, with big projects taking the lion's share. The number of newly signed overseas projects with a contract value exceeding $50 million came in at 115, up 29 from the same period a year earlier.