China’s global economic footprint through the Belt and Road Initiative (BRI) reached its highest level on record in 2025, according to the China Belt and Road Initiative Investment Report 2025 by Christoph Nedopil.
The report shows total Chinese engagement of USD 213.5 billion across BRI countries in 2025, driven by USD 128.4 billion in construction contracts and USD 85.2 billion in investments. This marks the strongest annual performance since the BRI was launched in 2013, bringing cumulative engagement to almost USD 1.4 trillion.
Energy dominated China’s overseas activity, accounting for 43 per cent of total BRI engagement. China’s energy-related deals reached USD 93.9 billion, combining record investment in renewable energy with a sharp resurgence in oil and gas. While green energy projects in wind, solar and waste-to-energy reached new highs, fossil fuel engagement—particularly gas—expanded even faster, underscoring the complex and sometimes contradictory nature of China’s overseas energy strategy.
The metals and mining sector also reached record levels, with USD 32.6 billion in engagement, reflecting growing demand for critical minerals such as copper to support data centres, electrification and emerging technologies. Technology and manufacturing investments surged to nearly USD 28.7 billion, with major projects in data centres, electric vehicle batteries and hydrogen.
Regionally, Africa emerged as the largest recipient of BRI engagement, recording a 283 per cent increase to USD 61.2 billion. Central Asia saw a sharp rise in investment, led by large-scale mining and processing projects in Kazakhstan, while engagement in the Pacific fell to its lowest level in a decade.
The report finds that large, high-value projects now dominate BRI activity, signalling a clear shift away from the “small but beautiful” projects promoted during the COVID period. Private Chinese firms led investment activity in 2025, while state-owned enterprises continued to dominate construction contracts.
Looking ahead, the report anticipates continued Chinese engagement in energy, mining and new technologies in 2026, shaped by global trade volatility, supply chain pressures and the search for new export markets—though with fewer megadeals than in 2025.
Find out more
If you would like to know more about the outcomes of the report, join Christoph Nedopil online to discuss the report in detail in a webinar on Tuesday, 22 January at 6:00pm (AEST).
