China’s Global Strategy: Infrastructure, 5G, and Sovereign Debt

China’s Belt and Road Initiative (BRI) has reached a new peak in 2025, with a record $213.5 billion in investments and construction contracts, according to verified reporting from the Financial Times and independent research from Griffith University and the Green Finance & Development Center of Shanghai. The surge—up 75% from 2024—reflects Beijing’s aggressive push to deepen economic and geopolitical influence across the Global South, even as concerns mount over debt sustainability and transparency in the initiative’s financing.

The BRI, launched in 2013, now spans 150 countries and has become China’s primary tool for shaping global infrastructure, energy supply chains, and strategic dependencies. The 2025 figures mark a significant acceleration in investment, with energy, mining, and renewable projects driving the majority of commitments. According to the Financial Times, over 350 new agreements were signed in 2025 alone, with energy-related investments reaching $93.9 billion—more than double the 2024 total—and mining projects accounting for $32.6 billion.

This expansion comes as China seeks to mitigate risks from global trade tensions and secure long-term access to critical resources. Christoph Nedopil Wang, a leading expert on Chinese energy finance, told the Financial Times that Beijing’s investment drive is set to continue in 2026, driven by the need to bolster supply chain resilience and open new markets for Chinese firms. “In a context of high volatility in global trade and investment, China has every interest in investing more to make its supply chains more resilient and to open new market outlets for its companies,” Wang stated.

Yet the rapid growth of the BRI has also raised alarms. The initiative has made China the world’s largest bilateral creditor, with cumulative contracts and investments exceeding $1.4 trillion since its launch. Over the past three years, more than $78 billion in Chinese loans have deteriorated, as some partner nations struggle to service debts incurred for infrastructure projects. This has led to a wave of debt renegotiations and defaults, particularly in Africa and parts of Asia, where Chinese-funded ports, railways, and energy projects have become liabilities rather than assets.

Despite these challenges, Beijing shows no signs of slowing down. The latest wave of BRI investments includes major projects such as:

• A large-scale gas field development in the Republic of the Congo, led by China’s Southernpec.
• A petrochemical industrial park in Ogidigben, Nigeria, developed by China National Chemical Engineering.
• A massive petrochemical plant in North Kalimantan, Indonesia.

These projects underscore China’s strategy of leveraging infrastructure and energy investments to lock in strategic partnerships and resource access. However, the lack of transparency in financing terms and the opacity of debt agreements continue to draw criticism from international observers and partner governments alike.

As the BRI enters its second decade, its impact on global geopolitics and economics is undeniable. While China positions itself as a key player in shaping the future of global development, the sustainability of its model—and the ability of partner nations to manage the associated financial risks—remains a critical question.

For now, the initiative continues to expand, with Beijing’s commitment to infrastructure, energy, and technology investments showing no signs of abating. The challenge for both China and its partners will be to balance rapid growth with the need for transparent, sustainable, and mutually beneficial development.

This article is based on reporting from the Financial Times and independent research from Griffith University and the Green Finance & Development Center of Shanghai, verified as of May 2026.