Aerial photo taken on April 6, 2020 shows the Marshall Islands-based Mt. Melody bunkering ship in operation at Hambantota International Port, Sri Lanka. (Photo by Liu Hongru/Xinhua)

China's total non-financial overseas direct investment (ODI) during the January-August period declined 2.6 percent year-on-year to 480.45 billion yuan ($68.48 billion), China's Ministry of Commerce (MOFCOM) said on Thursday, the same day a report showed that two-way capital flows between the US and China plunged to nine-year low in the first half.

But countries and regions along the Belt and Road Initiative (BRI) absorbed rising Chinese ODI during the first eight months of the year, MOFCOM data showed on Thursday.

Non-financial Chinese ODI to BRI markets from January to August jumped 31.5 percent year-on-year to reach $11.8 billion, accounting for 17.2 percent of total Chinese ODI during the period and a 4.8 percentage point rise from the same period last year, said Gao Feng, a MOFCOM spokesperson.

On the same day, a research report released by consultancy Rhodium Group said that investment between the US and China tumbled to a nine-year low in the first half of 2020, amid rising bilateral tensions.

Combined direct and venture capital investment between the two countries totaled $10.9 billion in the first half of 2020, the lowest level since 2011. 

Chinese FDI in the US rebounded slightly with the total value of completed investment in the US increasing to $4.7 billion in the first half from $3.4 billion a year earlier, thanks mainly to Tencent's $3.4 billion purchase of a minority stake in Universal Music Group, according to figures from consultancy Rhodium Group.

Total investment by Chinese venture activity, at an estimated investment volume of $800 million, dropped to a six-year low.