BEIJING -- Outbound investment of Chinese companies grew steadily in 2024, with more than 80 percent maintaining or expanding investment abroad, according to a survey report released on Friday.

Over 90 percent of the surveyed firms are optimistic about the prospects of overseas investment, according to the survey conducted by the China Council for the Promotion of International Trade (CCPIT).

The survey found that companies favor investment opportunities in countries and regions participating in the Belt and Road cooperation, Sun Xiao, spokesperson of the CCPIT, said at a press conference.

In terms of industry, about half of the surveyed companies prioritize the manufacturing sector, while nearly 30 percent of the companies favor wholesale and retail trade, Sun said.

Sun said nearly 70 percent of the surveyed companies invested overseas to explore market opportunities, while nearly 40 percent of them to enhance international recognition of their brands, and more than 30 percent to reduce production and operation costs, citing the survey.