Investments under China’s
Belt and Road Initiative
rose sharply during the first half of the year – especially for initiatives in Central Asia focused on minerals and ore extraction – prompting certain experts to suggest that Beijing aims to secure vital raw materials as a safeguard against potential tightening of U.S. trade policies.

Over 150 nations involved in the worldwide infrastructure project secured a total of $124 billion in funding and building agreements between January and June, according to the U.S.-based China-Global South Project think tank, which shared this information on their website on Tuesday. This amount surpasses the previously recorded $122 billion for the entire year of 2024.

Analyzing data collected in July by the Griffith Asia Institute based in Australia, the group pointed out an “exceptionally dense distribution” of financial support directed toward Central Asia, a area they mentioned Chinese investors are “enthusiastic about.”
mining projects
especially those involved in the extraction of aluminum and copper.

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Meanwhile, it noted that financial support has decreased in Europe, East Asia, and the Middle East.

Kazakhstan received the main flow of Chinese investments, amounting to $23 billion during the first half of 2025. The biggest initiative within the nation, based on funding volume, was a $12 billion aluminum facility headed by the Chinese company East Hope Group.

The China-Global South Project stated that China’s choice to make such a significant investment in Kazakhstan’s aluminum industry stems from both domestic economic challenges and evolving international trade patterns.

The 12-year-old One Belt and One Road initiative has
traditionally focused
In the development of airports, seaports, highways, and energy facilities, primarily led by Chinese firms, within nations that maintain trade relations with Beijing. These initiatives aim to be utilized locally within the hosting countries.

Moving towards mineral- and metal-focused projects in Central Asia is logical, as transportation infrastructure has already been developed in the area through this initiative, noted Andy Xie, an independent Chinese economist based in Shanghai. These minerals can then be transported to China via rail.

Trade tensions with Washington
has raised concerns among Chinese officials that the United States could seek control of valuable minerals in Central Asia, according to Jayant Menon, a senior fellow at the ISEAS-Yusof Ishak Institute in Singapore.

Kazakhstan possesses deposits of 15 rare earth minerals, along with various metals utilized in the production of computers and vehicles.

The president, Kassym-Jomart Tokayev, along with leaders from the other four Central Asian nations, will take part in a
Shanghai Cooperation Organisation
meeting held in the northern Chinese city of Tianjin on Sunday.

China could have a greater interest in protecting itself from deteriorating trade ties with the United States,” Menon stated, referring to it as a “first-mover benefit.

In February, U.S. State Department spokesperson Tammy Bruce stated that the United States anticipated collaborating with Uzbekistan to explore “reciprocal advantages for investments in essential minerals.”

This year, China and the United States have faced conflicts concerning increasing trade taxes, restrictions on exports, and disagreements regarding global political matters.

However, major initiatives require considerable time to come to fruition, suggesting that the trade conflict may have “speeded up” but not necessarily “initiated” progress in Central Asia, noted Christoph Nedopil Wang, director of the Shanghai-based Green Finance & Development Centre.

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The piece was first published in the South China Morning Post (www.scmp.com), a top-tier news outlet covering developments in China and Asia.

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