Direct non-financial investments by Chinese companies in countries participating in the “Belt and Road” initiative reached $39.67 billion in 2025, a 17.6% increase from the previous year, according to Ma Shengkun, China’s ambassador to Ukraine.
“Through direct investment, project contracting, and development financing, China has contributed to improving local infrastructure, modernizing industry, and raising the standard of living,” the diplomat wrote in a column on the Interfax-Ukraine website.
According to the data he cited, Chinese investment in Africa grew by 41% in 2025.
Chinese companies have established overseas trade and economic cooperation zones in 46 countries, with total investment in these zones approaching $80 billion.
As an example of industrial cooperation, Ma Shenkun cited a project by the Chinese battery manufacturer CATL in Indonesia. It involves establishing a complete production cycle for traction batteries—from the extraction and processing of nickel and the production of battery materials to the manufacturing and assembly of finished batteries.
According to data cited by the ambassador, the total volume of China’s direct non-financial foreign investment in 2025 reached $145.66 billion.
Ma Shengkun also cited World Bank estimates, according to which the full implementation of transportation projects under the “Belt and Road” initiative has the potential to reduce transit times along the relevant corridors by up to 12% and increase trade among countries located along them by 2.8–9.7%.
As previously reported, China is Ukraine’s largest trading partner. According to calculations by the Experts Club information and analytical center, trade between the two countries in the first half of 2026 totaled $14.68 billion. At the same time, Ukraine imported $13.9 billion worth of Chinese goods and exported $778.4 million worth of goods to China, resulting in a trade deficit of $13.12 billion.
China accounted for 21.9% of Ukraine’s trade with its 50 largest partners and 29.4% of imports from this group of countries. Trade with China accounted for approximately 47.3% of Ukraine’s total trade deficit with its top 50 partners.
According to the State Customs Service, from January through August 2026, imports of goods from China to Ukraine had already exceeded $19.6 billion, maintaining China’s position as the top supplier to the Ukrainian market.
China’s role in Ukraine’s foreign trade is analyzed in more detail in a study by Experts Club and Active Group, published on September 18, 2026.
