China's Belt and Road Initiative hits record $124 billion in first half of 2025

China's Belt and Road Initiative (BRI) has reached a significant milestone in the first half of 2025, with total investment and construction engagement reaching a record-breaking $124 billion — the highest figure ever recorded for a six-month period. 

The figures were unveiled in the newly released China Belt and Road Initiative Investment Report 2025, authored by Professor Christoph Nedopil, Director of the Griffith Asia Institute, and published on the institute’s official website, as reported by Caliber.Az.

The comprehensive report, jointly issued by Griffith University and the Green Finance & Development Centre in China, outlines that Chinese companies signed $66.2 billion in construction contracts and committed an additional $$57.1 billion in direct investments across BRI partner countries during the January–June period — exceeding the total BRI engagement for the entirety of 2024.

Professor Nedopil attributed this sharp increase to China's strategic focus on key sectors.
“China’s unprecedented BRI engagement in 2025 demonstrates a renewed emphasis on critical industries such as energy, mining, and high-tech manufacturing,” he noted. “This reflects China’s strategic use of its industrial capabilities to secure future competitiveness and enhance supply chain resilience in a rapidly evolving global landscape.”

The energy sector dominated this surge, accounting for $44 billion in total deals, with oil and gas projects representing half that amount. Notably, the largest individual project was a $20 billion gas processing complex in Nigeria. At the same time, the green energy segment saw significant momentum, attracting $9.7 billion for projects in wind, solar, and waste-to-energy technologies, and delivering nearly 12 gigawatts of newly installed renewable energy capacity worldwide.

Chinese engagement in the metals and mining sector also reached new highs, totalling  $24.9 billion, driven largely by investments in aluminium and copper mining and processing facilities, particularly in Central Asia. Meanwhile, the technology and manufacturing sectors attracted USD 23.2 billion, with notable investments targeting electric vehicle (EV) batteries, photovoltaic solar technology, and green hydrogen production.

The first half of 2025 also marked a growing role for private Chinese enterprises in BRI-related investments. Companies such as East Hope Group, Xinfa Group, and Longi Green Energy spearheaded high-value projects, signalling a broader trend toward increased private sector participation in BRI financing mechanisms.

In terms of geographic distribution, Africa and Central Asia emerged as leading recipients of Chinese capital. Africa attracted USD 30.5 billion in BRI-related engagement—almost five times the volume recorded during the same period in 2024. Central Asia followed closely with USD 25 billion, including substantial infrastructure and resource-based investments in Kazakhstan.

Commenting on this shift, Professor Nedopil observed: “The BRI is undergoing a transformation. While the number of projects may be decreasing, their scale and strategic significance are increasing, particularly in areas such as critical minerals and clean technologies that are foundational to the industries of the future.”

Since its inception in 2013, cumulative BRI investment and construction engagement have now surpassed $1.3 trillion, encompassing partnerships with more than 150 countries across infrastructure, trade, and investment.

Looking ahead, the report anticipates stable BRI engagement in the second half of 2025, with sustained interest in renewable energy, advanced manufacturing, and digital infrastructure, despite ongoing global economic challenges and geopolitical uncertainties.

By Tamilla Hasanova