Investment in Belt and Road countries jumps on tech deals | Bloomberg News

After the tech sector, the energy sector was the largest recipient of Chinese investment, with $9 billion going into projects, mostly for oil, gas and green energy. Chinese firms also signed more than $15 billion in construction deals for the energy sector and another $12 billion for transport infrastructure such as ports, roads and railways, according to the report from Christoph Nedopil at Fudan’s Green Finance & Development Center.

Total construction deals fell 27 percent to $35.3 billion, lowest level since the start of the initiative spearheaded by Chinese President Xi Jinping. Hungary was the largest recipient of Chinese investment among BRI nations, followed by Saudi Arabia and Singapore. Russia, Angola, Sri Lanka, Nepal and Peru saw no new investment or construction deals, while engagement in Pakistan fell 34 percent, and that in sub-Saharan Africa also dropped by double digits, the report showed.

Chinese lending to a number of nations has fallen during the pandemic as an increasing number of borrowers in Africa and elsewhere have either defaulted on their debts or requested debt restructuring. Pakistan was

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