China’s Belt and Road Initiative recorded a sharp acceleration in 2025, with new deals reaching a record 213.5 billion dollars, according to a report by the Griffith Asia Institute. The value of confirmed agreements rose 75 percent year on year, lifting China’s cumulative Belt and Road investment and construction contracts to about 1.4 trillion dollars across 150 countries since 2013.
Energy dominated China’s overseas engagement, accounting for 43 percent of total deals. The year was described as both the greenest and the dirtiest on record, with clean energy investment hitting new highs while fossil fuel deals almost tripled to 71.5 billion dollars. Mining and metals also surged, led by major investments in Central Asia and rising focus on copper and rare earths linked to technology and data centre demand.
Geographically, China pivoted strongly toward Africa and Central Asia, where investment nearly tripled and quadrupled. Analysts say trade frictions and supply chain pressures could push Belt and Road activity even higher in 2026, especially in energy, mining, and manufacturing.
