In the first half of 2025, China’s newly signed construction contracts and investments in Belt and Road Initiative (BRI) countries reached $124 billion, surpassing the total amount for the entire year of 2024. According to a joint study by Griffith University in Australia and the Beijing Green Finance and Development Center, 176 deals were signed during this period, with China’s involvement in the energy sector reaching its highest level since the BRI’s inception. The largest investments were made in Africa ($39 billion) and Central Asia ($25 billion). Kazakhstan emerged as China’s key partner with $23 billion in investments, while Latin America saw its lowest investment levels in a decade. Significant increases were also observed in oil and natural gas projects.
The research also revealed that Chinese companies made record investments in clean energy projects such as wind, solar, and waste-to-energy, while continuing investments in coal, metals, and mining sectors. Additionally, data from the US-based Rhodium Group showed that China’s foreign direct investment in BRI countries reached approximately $15.9 billion in the first quarter of 2025, growing 10% year-on-year. With companies shifting production bases from China to other regions, Southeast Asia experienced a major increase in BRI investments, becoming the second-largest recipient of investment after Central Asia.