● Investment volume: Chinese firms have pledged at least USD 227 billion across green manufacturing projects. A high-end estimate approaches USD 250 billion. This surge of overseas green manufacturing investment is unprecedented; it now surpasses the USD 200 billion (in current 2024 dollars) invested by the US over four years of the Marshall Plan, at a time of similar American dominance of manufacturing in key industries.
● Post-2022 acceleration: Investments surged beginning in 2022, with 387 projects— over 80% of the total—launched since that year. A record 165 projects were announced in 2024 alone. Since 2022, Chinese firms have committed over USD 210 billion, accounting for approximately 88% of total disclosed capital.
“In each year since 2022, the pledged investment exceeded the total amount committed over the entire previous decade.”
● Sector diversification: Solar dominated pre-COVID, but since 2021, capital has fanned out to battery materials, full battery plants, New Energy Vehicle’s (NEV), charging equipment, wind, and early-stage green hydrogen.
● Regional re-balancing: ASEAN still hosts the most projects, yet 2024 saw MENA’s share jump to over 20 % of new deals; Europe remains key for downstream batteries, while Latin America and Central Asia enter the map.
“Over 75 percent of the projects in the database are located in the Global South or emerging markets.”
● Hot-spots:
● Indonesia—linchpin for nickel-rich battery-material projects and new solar lines.
● Morocco—cathodes and green-hydrogen for EU supply chains.
● Gulf states—solar module and electrolyser manufacturing backed by sovereign offtakes.
● Hungary, Spain, Brazil, and Egypt—sector-specific hubs for batteries, hydrogen, or mixed clean-tech plays.
● The geographic distribution suggests that investment motivations can be categorized into three types: Seeking access to host countries markets, access to third-country markets, or access to raw material inputs.
● Megaprojects: Chinese investments include 60 projects exceeding USD 1 billion.
