China's investment in the Asia-Pacific region has shown robust growth. According to the latest data, as of 2023, Chinese investment has increased by 37%, reaching nearly $20 billion, equivalent to 31.2 quadrillion Indonesian rupiah.
Approximately 50% of this investment flows into Southeast Asia, with Indonesia attracting $7.3 billion or approximately 11.388 quadrillion rupiah in investment. China's rapid expansion of investment in the Asia-Pacific region has made Indonesia a major beneficiary of Chinese overseas investment.
On the other hand, China's construction business in the Asia-Pacific region has also experienced significant growth, with contract values reaching around $17 billion, a growth rate of approximately 14%. Not only has China seen an increase in the scale of investment, but its role in regional infrastructure development has also become more prominent, with data showing investment activities returning to pre-pandemic levels.
Zhejiang Huayou Cobalt, one of the world's largest cobalt refining companies, accounts for 21.2% of the total investment in Asia. Alibaba's e-commerce group follows, contributing 11.6%. Resources related to green transformation, such as lithium and nickel for electric vehicle batteries, are mainly concentrated in Indonesia, South Korea, Vietnam, and Bangladesh. Investment in this industry reached $5.3 billion, approximately 8.268 quadrillion rupiah, a 130% increase from 2022.
The implementation of the Belt and Road Initiative has adopted more moderate measures, with the average transaction size of investments in 2023 being $499 million (778 trillion rupiah). This year, Chinese investment and construction in the Asia-Pacific region may further rebound, with investment strategies becoming more cautious and diversified to adapt to new trends and challenges in regional development.