Vice Commerce Minister Li Chenggang told a news conference on Friday that China has witnessed strong trade and investment with nations taking part in the Belt and Road initiative in recent years.
With an average yearly growth rate of 4.7%, the total value of commerce between China and its affiliated nations grew from US$2.7 trillion in 2021 to US$3.1 trillion last year, according to Li. According to Xinhua, the volume was 50.7 percent of China’s overall international trade in 2024, up from 45.3 percent in 2021.
Over 160 billion US dollars went into the Belt and Road nations, while over 80 billion dollars went into China, totaling 240 billion US dollars in two-way investment between China and the countries from 2021 to the first half of this year.
Belt and Road cooperation projects, according to Li, have made steady progress, increased infrastructure connections, raised people’s quality of life, and developed talent for local development. The total value of China’s foreign engineering contracts from 2021 to the first half of this year was close to 600 billion dollars.
China has inked investment cooperation agreements with more than 50 Belt and Road nations in critical areas such the digital, green, and blue economies in an effort to foster the growth of innovative businesses and broaden the scope of collaboration. There are now 36 partner nations in the Silk Road e-commerce partnership.
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