Direct non-financial investment by Chinese companies in countries participating in the ‘Belt and Road’ initiative reached $39.67 billion in 2025, an increase of 17.6 per cent on the previous year, according to Ma Shenkun, China’s Ambassador to Ukraine.
“Through direct investment, project contracting and development financing, China has contributed to improving local infrastructure, modernising industry and raising the standard of living of the population,” the diplomat wrote in a column on the Interfax-Ukraine website.
According to the figures he cited, Chinese investment in Africa rose by 41 per cent in 2025.
Chinese companies have established overseas trade and economic cooperation zones in 46 countries, with the total volume of investment in these zones approaching $80 billion.
As one example of industrial cooperation, Ma Shengkun cited the 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 manufacture and assembly of finished batteries.
According to figures 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 transport projects under the ‘Belt and Road’ initiative could potentially reduce transit times along the relevant corridors by up to 12 per cent and increase trade between the countries along them by 2.8–9.7 per cent.
As reported, China is Ukraine’s largest trading partner. According to calculations by the Experts Club information and analytical centre, trade between the two countries in the first half of 2026 amounted to $14.68 billion. 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 per cent of Ukraine’s trade with its 50 largest trading partners and 29.4 per cent of imports from this group of countries. Trade with China accounted for around 47.3 per cent of Ukraine’s total trade deficit with its top 50 trading partners.
According to data from the State Customs Service, imports of goods from China to Ukraine in January–August 2026 had already exceeded $19.6 billion, maintaining China’s position as the leading supplier to the Ukrainian market.
China’s role in Ukraine’s foreign trade is analysed in greater detail in a study by Experts Club and Active Group, published on 18 September 2026.