China’s trade in goods with countries participating in the Belt and Road Initiative (BRI) soared to an impressive 22.1 trillion yuan (approximately 3.07 trillion U.S. dollars) in 2024, according to a statement from the Ministry of Commerce released on Wednesday.
In a press conference, ministry official Li Yongsha highlighted that nearly 54 per cent of China’s imports last year originated from BRI partner countries. This substantial figure underscores how China’s vast market continues to offer significant development opportunities for nations across the globe.
Li elaborated that China’s exports to BRI countries encompass a wide range of products, including consumer goods, industrial equipment, and components. These exports have played a crucial role in bolstering the industrial development of the recipient nations.
The momentum of two-way investment with BRI countries has also shown remarkable growth. In the first 11 months of 2024, China’s non-financial direct investment in BRI nations reached 214.66 billion yuan, while investments flowing into China from these countries amounted to 99.87 billion yuan.
During the same period, China entered into 36 investment cooperation agreements with BRI nations, focusing primarily on emerging sectors such as the green, digital, and blue economies.
Li noted that in the first 11 months of 2024, the turnover from China’s contracted projects in BRI partner countries reached 826.34 billion yuan. Additionally, China successfully organized and implemented 700 aid projects in these nations, significantly contributing to their development.
