Southeast Asia is the first choice for Chinese listed companies to operate overseas businesses among the Belt and Road Initiatives (BRI) countries, a white paper published by the China Association for Public Companies (CAPCO) said on Wednesday.

The White Paper on Chinese Listed Companies to Build the Belt and Road 2021 was released based on the feedback of over 3,000 Chinese listed companies surveyed by the CACPO on their participation in the Belt and Road initiatives.

Listed companies have become the backbone among Chinese enterprises to promote business in BRI countries, the white paper said. In 2020, the total amount of Chinese listed company business in BRI countries amounted to 4.38 trillion yuan($0.64 trillion), covering 143 BRI economies.

Businesses operated by Chinese listed companies in Southeast Asia have witnessed a significantly higher proportion than that in other BRI countries and regions, with 60 percent of Chinese non-financial listed company investments operated here, according to the white paper.

The ways listed companies participate in the BRI are mainly through six businesses, it was said, namely commodity procurement, product sales, project contracting, financial services, investment and financing.

In terms of the number of business operations, Southeast Asian countries accounted for the highest proportion, reaching 31.6 percent. Specifically, Vietnam ranks first, with Singapore, Thailand, Indonesia, Malaysia and other countries also among the first choices for Chinese listed companies, it was added.

The reasons why Southeast Asia countries are preferred are because of their geographical location, good digital infrastructure and strong growth prospects, the white paper analyzed.

At present, most companies are optimistic about the future of participating in the BRI development, it was said.