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China has been ramping up its international investments through the Belt and Road Initiative, with industry leaders and academics at a recent forum agreeing that this effort is advancing global development goals such as sustainable energy and technological collaboration.
Participants at the ninth International Academic Forum on the Belt and Road Initiative and Global Governance, held from November 28 to 29, noted significant progress in infrastructure and digital commerce across Africa due to these investments. The event was organized jointly by Fudan University under the theme of deepening and broadening the initiative. During the forum, parallel sessions like the Entrepreneur Forum brought together experts from sectors including infrastructure and tech to examine new opportunities and challenges in cooperation.
From January to October, Chinese companies invested over $32.7 billion directly in Belt and Road countries, marking a more than 21 percent increase compared to the previous year, according to commerce ministry data. Meanwhile, new contract signings for overseas projects totaled approximately $186.3 billion—up 24 percent—and completed projects generated about $112.35 billion in revenue, an 8.6 percent rise.
Projects such as the Tanzania-Zambia Railway and Ethiopia’s Africa Center for Disease Control and Prevention exemplify efforts to bolster transport infrastructure, create employment, and develop talent on the continent, according to Zhang Baiqin of China Railway 24th Bureau Group. The Tanzania-Zambia railway upgrade, which started on November 20, aims to modernize regional connectivity and support industrial growth through collaboration between the two nations and China.
Experts underscored the importance of integrating digital infrastructure with traditional facilities, emphasizing that digital pilot programs could improve management capabilities and help build sustainable industrial supply chains.
In emerging sectors, notably e-commerce, Africa shows immense potential. He Liehui of Touchroad International Holdings Group pointed out that the continent’s youthful population fuels rapid growth in online retail, with startups in Nigeria and Kenya launching innovative platforms. The market is expected to more than double in size by 2029, reaching over 500 million users, according to TechCabal Insights. However, the report also highlighted the need for better local manufacturing, as well as improvements in transportation and telecommunications infrastructure—areas where Chinese companies could contribute significantly.
Representatives from the Europe-China Science and Technology Economic and Trade Federation and Harbin International Commodity Trading Center emphasized that the Belt and Road Initiative fosters mutually beneficial partnerships between China and Europe, as well as China and Russia, particularly in energy and agriculture.
Experts also highlighted the importance of cultural and artistic exchanges in strengthening relationships and driving economic development, with Guo Lian of China’s Development Bank stressing that people-to-people bonds are vital for sustainable cooperation.
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