China’s investment and construction engagement in the Belt and Road Initiative (BRI) 2026 H1, Green Finance & Development Center, 26 Jul 2026

Key findings

• 2026 H1 saw the highest BRI engagement for any first six months since 2013, with USD49.8 billion in investment and USD76.5 of construction contracts.
• China’s energy related engagement in 2026 H1 reached record levels with about USD36.3 billion – almost double the energy engagement in any first half year since 2013 except 2025.
• 56% of China’s energy engagement was green – a new record both in absolute and in relative terms
  • More than USD20 billion in H1 2026, same level as green energy engagement in all 2025;
  • More than 20 GW of green electricity projects confirmed through investment and construction – more than in all of 2025.
• A Chinese company agreed to build a new 660 MW coal fired power plant in Zambia – approvals are pending.
• Metals and mining sector reached a record high of USD 21.8 billion in 2026 H1 alone, higher than any full year since 2013 except 2025 – mostly in processing not mining.
• Focus areas were steel production (Egypt) and aluminum (Kazakhstan), highly relevant for e.g., automotive manufacturing and transmission lines.
• The technology and manufacturing sector reached record levels growing by about 11% (technology) and 81% (manufacturing) compared to 2025 H1 to USD17 billion and USD6.5 billion, respectively.
• The transportation sector grew for the first time since 2020 to USD18.2 billion – all through construction contracts.
• Africa – again – topped the regional rank of BRI engagement, almost tripling Chinese BRI investment compared to H1 2025 to USD33.5 billion – more than ever.
• Middle East tops the list of construction engagement with USD 36.5 billion – record levels for any H1 since 2013.
• No engagement in Pakistan or Russia recorded in H1 2026.
• The private sector expanded its share of total engagement (USD) from 13% in 2020 to 48% in 2026 H1 (as compared to state-owned companies).
• China’s global footprint in overseas investment remains small compared to its GDP (0.8%) – significantly smaller than Germany (1.7%), The Netherlands (4.0%), Japan (4.2%), or UAE (10.1%).
• For the rest of 2026, I see continued opportunities for Chinese engagement in BRI countries with a continued focus on energy, mining and new technologies.
• Both global trade frictions and fossil fuel price volatility can be an opportunity for Chinese BRI engagement such as green sectors and manufacturing localization.