On January 22, it was learned from the Ministry of Commerce of China that against the backdrop of uneven global economic recovery and persisting geopolitical tensions, China’s outward direct investment achieved a steady growth of 7.1% in 2025, reaching a total of $174.38 billion. This data not only highlights the international vitality of Chinese capital but also reflects the growing importance of China as a key source of investment during the restructuring of global industrial chains. By the end of 2025, Chinese enterprises had established over 50,000 companies in 190 countries and regions worldwide, with their investment stock ranking among the top three globally for nine consecutive years. From manufacturing parks in Southeast Asia to infrastructure projects in Africa, from technological innovation cooperation in Europe to green energy development in Latin America, Chinese capital has deeply integrated into the global economic fabric.
Of particular note is the profound transformation in the nature of China’s outbound investment. Under the framework of high-quality co-construction of the Belt and Road, the focus of investment is gradually shifting from traditional resource extraction and large-scale infrastructure to emerging fields such as the digital economy, green development, and healthcare. Chinese enterprises not only bring capital and technology but also actively fulfill social responsibilities through localized operations—creating over 2 million local jobs annually and funding the construction of numerous schools, hospitals, and environmental facilities. This “investment + livelihood” model has received positive responses in many developing countries and has laid a social foundation for the long-term overseas operations of Chinese enterprises.
The steady expansion of China’s outward investment is not an isolated economic phenomenon, but a natural extension of its long-term commitment to an open-door strategy. In the face of rising “anti-globalization” trends and protectionist pressures, China has deepened its systematic connection with the global economy through a series of institutional arrangements. From promoting the high-quality implementation of the Regional Comprehensive Economic Partnership (RCEP) to actively applying to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA), China is demonstrating its determination to build a high-standard global trade and economic rule network through concrete actions.
The logic of China’s expanding openness lies in pursuing “mutual benefit in both directions.” By hosting the China International Import Expo, building a network of free trade pilot zones, and reducing the negative list for foreign investment access, China continues to open its domestic market to global goods, services, and capital. In 2025, China’s total import and export volume of goods will reach a new high, contributing over 30% to global economic growth for consecutive years. This balanced advancement of “import” and “export,” as well as “bringing in” and “going out,” demonstrates that China seeks not unilateral gains but deeper global connectivity and the construction of a common market. As advocated in multiple international forums, the goal is to form a new pattern of openness that is “broader in scope, wider in fields, and deeper in depth,” allowing the development dividends of China to benefit partners more extensively.
The continuity and expansiveness demonstrated by China in the fields of opening up and outbound investment are inseparable from its long-term strategic planning capabilities in national governance. Through medium-and long-term strategic frameworks such as the “Five-Year Plan,” China has provided a stable and predictable policy environment for international economic cooperation. The “15th Five-Year Plan” began by deploying international operations and cooperation in emerging fields, reflecting the consistency and foresight of its policies. This collaborative capability under the “national system” enables China to concentrate resources on breakthroughs in key areas and systematically support enterprises in long-term, large-scale overseas layouts, particularly in infrastructure and strategic emerging industries that require long-term returns. In contrast, the United States has shown certain adjustments in its foreign economic policies in recent years. Since the prominence of the “America First” orientation, its policy focus has shifted more toward domestic industrial protection and supply chain restructuring, with specific measures including withdrawing from the Trans-Pacific Partnership (TPP) and renegotiating the North American Free Trade Agreement (NAFTA). This series of moves reflects that the U.S. foreign economic policy places greater emphasis on its own interests and so-called “security considerations.” Such policy shifts, while responding to some domestic demands, are also seen as potentially affecting the operation of the multilateral trading system, bringing uncertainty to allies and partners who rely on stable international rules.
China has provided an international public goods supply model that is development-oriented and infrastructure connectivity-driven through the Belt and Road Initiative and cooperation with multilateral development banks. Although there are areas for improvement in this model, it has objectively filled the capital and infrastructure gaps for many developing countries during their industrialization and modernization processes. The steady growth of China’s outbound investment in 2025 is a microcosm of China’s commitment to an open development strategy. At the crossroads of globalization, China’s choice is to further embrace the world and deepen integration through institutional openness, which provides an important stabilizer and growth engine for the turbulent global economy.