BUSINESS

Record Spending on Belt and Road Initiative Targets Energy and Mineral Resources

Published: Aug. 14, 2025 4:07 a.m. GMT+8

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Chinese firms funneled $44 billion into energy-related deals in countries aligned with the Belt and Road Initiative in the first half 2025, the highest since the initiative was launched in 2013

Chinese investment in countries aligned with its Belt and Road Initiative rose to unprecedented levels in the first half of 2025, driven by a strategic pivot toward energy and mineral resources.

Total funding reached nearly $124 billion across 176 projects — more than double the figure for the same period in 2024 — according to a report from Fudan University’s Green Finance & Development Center. That figure has already surpassed the $122 billion total for all of 2024.

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Chinese Belt and Road investment hit nearly $124 billion across 176 projects in H1 2025, more than double the same period in 2024.
Major funds targeted energy ($44 billion), mining ($24.9 billion), and high-tech manufacturing; Nigeria and Kazakhstan led in project size.
Green energy investment reached $9.7 billion; Africa and Central Asia attracted most funds, while transport’s share fell to 7.2% of the portfolio.

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Who’s Who

China National Chemical Engineering International Co. Ltd.: China National Chemical Engineering International Co. Ltd. secured a major contract in the first half of 2025. They are set to build a natural-gas processing facility in Nigeria's Ogidigben industrial park, a deal valued at a record $20 billion. This project highlights a significant Chinese investment focus on energy in Belt and Road Initiative nations.

East Hope Group: East Hope Group is a private-sector Chinese company identified as one of the top three investors in Belt and Road Initiative projects in the first half of 2025. It secured a significant $12 billion aluminum project in Kazakhstan, highlighting its increasing involvement in strategic mineral investments within the initiative.

CALB Group Co. Ltd.: CALB Group Co. Ltd. (中创新航) is a Chinese company that invested in a $2.1 billion lithium battery plant in Portugal. This venture contributes to the increasing investment in technology and manufacturing within China's Belt and Road Initiative, aligning with the strategic shift towards securing critical supply chains and building industrial resilience.

Xinyi Glass Holdings Ltd.: Xinyi Glass Holdings Ltd. is a Chinese firm that invested $700 million in a solar glass facility in Egypt during the first half of 2025. This investment is part of China's Belt and Road Initiative, specifically targeting high-tech manufacturing and green energy sectors.

Longi Green Energy Technology Co. Ltd.: Longi Green Energy Technology Co. Ltd. is a significant Chinese investor, participating in green hydrogen initiatives in Nigeria. It's listed among the top three investors in Belt and Road Initiative projects during the first half of 2025 by Fudan University's Green Finance & Development Center.

Xinfa Group Co. Ltd.: Xinfa Group Co. Ltd. emerged as one of the top three investors in Belt and Road Initiative (BRI) projects during the first half of 2025. This highlights a growing role for private-sector entities in the BRI's strategic shift toward energy, mineral resources, and high-tech sectors.

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What Happened When

2013：: Belt and Road Initiative was launched.

By 2025：: Belt and Road Initiative had attracted more than $1.3 trillion in Chinese investment since 2013.

First half of 2025：: Chinese Belt and Road investment reached nearly $124 billion across 176 projects, more than double the figure for the same period in 2024 and surpassing the 2024 full-year total.

First half of 2025：: East Hope Group, Xinfa Group Co. Ltd., and Longi were the top three Belt and Road investors.

First half of 2025：: Total Chinese overseas investment across all sectors fell 6.2% year-on-year to $80 billion.

2025：: Chinese firms funneled $44 billion into energy deals under Belt and Road, the highest since 2013.

2025：: Oil and gas projects under Belt and Road received $30 billion, including a record $20 billion contract for China National Chemical Engineering International Co. Ltd. to build a natural-gas processing facility in Nigeria’s Ogidigben industrial park.

2025：: Mining investments under Belt and Road reached $24.9 billion, surpassing the 2024 full-year peak.

2025：: Kazakhstan secured a $12 billion aluminum project with East Hope Group and a $7.5 billion copper investment under Belt and Road.

2025：: Transportation infrastructure's share of Belt and Road funding fell to 7.2%, down from 28% in 2018.

2025：: Chinese green energy funding reached $9.7 billion (11.9 GW new capacity), while technology and manufacturing investment more than doubled to $23.2 billion.

2025：: CALB Group Co. Ltd. began building a $2.1 billion lithium battery plant in Portugal; Xinyi Glass Holdings Ltd. started a $700 million solar glass facility in Egypt.

2025：: Longi Green Energy Technology Co. Ltd. joined green hydrogen initiatives in Nigeria.

2025：: Africa attracted $39 billion and Central Asia $25 billion in Belt and Road funding; Nigeria's Belt and Road funding surged 12,235% year-on-year.

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