Trade between Shenzhen and the countries and regions along the Belt and Road (B&R) topped 245.65 billion yuan (US$34.7 billion) from January to May, up 5.8 percent year on year, the Shenzhen Municipal Development and Reform Commission said at a news conference yesterday.

Despite financial impacts of the COVID-19 pandemic and external economic environment, Shenzhen’s foreign investment continued the pattern of growth.

From January to May, Shenzhen-based enterprises made direct investment to 168 non-financial foreign firms in 28 countries and regions around the world, with the actual investment reaching US$4.02 billion, up 61.78 percent from a year ago.

The investment amount was 56.84 percent of the total amount in Guangdong, ranking No. 2 among cities in the country.

At present, Shenzhen’s combined foreign direct investment has reached 145.08 billion yuan, ranking first among large and medium-sized cities across the country, according to data released by the Shenzhen Municipal Commerce Bureau.

The city saw 71 new overseas contracted projects each worth over US$10 million in the first five months.

The city also pledged to boost trade with countries along the Belt and Road.

Companies in the city added investments to 38 enterprises and institutions in B&R countries such as Singapore, Vietnam, Thailand, India and Indonesia in the first five months, said Wang Youming, director of the commerce bureau.

As of the first quarter, the number of the city’s sister ports reached 26, with 12 in B&R countries.

Shenzhen Port has 186 direct shipping routes to B&R countries so far.

Next, the city will add more direct flights to B&R countries, according to Yu Jing, deputy director of the city’s development and reform commission.