The average deal size for investments with a value larger than USD 100 million grew to record levels of USD 939 million in 2025 (from USD 672 million in 2024). The value is about three times higher than in 2020 (during the first year of COVID).
For construction projects, the average deal size in 2025 increased to USD 964 million, up from USD 496 million in 2024.
It is important to note… that many large infrastructure projects are resource-backed deals (e.g., oil, gas) and thus revenue-generating, as compared to fiscal spending in host countries (e.g., road construction). This provides relatively lower financial risks for Chinese counterparts in supporting and potentially financing these construction contracts.
Chinese BRI engagement was not evenly distributed among all regions. China’s construction engagement across multiple regions increased significantly compared to 2024.
Africa: plus 283 per cent to USD 61.2 billion
Southeast Asia: plus 81 per cent to USD 12.7 billion
Latin America: plus 48 per cent to USD 2.1 billion
This compares to significant drops in the Pacific (minus 96 per cent) and East Asia (minus 59 per cent).
The region with the absolute largest construction engagement was also Africa, with the Middle East coming in second with USD 39.4 billion in engagement.