China’s Overseas Clean-Tech Investments Cross $220 Bn: Report

Chinese green technology firms have pledged more than $227 billion in overseas manufacturing projects, underscoring Beijing’s growing role in the global clean-tech transition, according to a new dataset compiled by the Net Zero Industrial Policy Lab at Johns Hopkins University and Boston University’s Global Development Policy Center. At the higher end, commitments could approach $250 billion.

The China Low Carbon Technology FDI Database, tracks projects in batteries, solar modules, wind turbines, electric vehicles and emerging hydrogen technologies. It shows investments have surged since 2022, with more than 387 projects identified, over 80% of them announced in the past three years. A record 165 projects were unveiled in 2024 alone. Since 2022, Chinese firms have committed over $210 billion, accounting for nearly 88% of the total disclosed capital.

Chinese Investments 

Before the pandemic, solar dominated Chinese investments abroad. Since 2021, however, capital has spread into battery materials, full battery plants, EV assembly, charging infrastructure, wind and early-stage hydrogen manufacturing.

The geographic footprint is also shifting. While ASEAN remains the top destination, the Middle East and North Africa (MENA) region accounted for more than 20% of new deals in 2024. Europe continues to attract downstream battery projects, while Latin America and Central Asia are beginning to feature on the investment map. Indonesia has emerged as a hub for nickel-rich battery materials and solar lines, Morocco is building cathode and hydrogen projects tied to EU supply chains, and Gulf states are drawing solar and electrolyser plants backed by sovereign contracts. Hungary, Spain, Brazil and Egypt are developing into specialised clean-tech hubs.

Different Categories 

Researchers say motivations for Chinese firms fall into three categories: access to host country markets, third-country export opportunities or raw material inputs. The scale of investment is also rising, with at least 60 projects valued at over $1 billion each.

For host governments, the findings highlight the importance of targeted incentives. Large battery and hydrogen projects respond to tax holidays, concessional land and long-term financing, while solar and EV plants are more sensitive to local content rules and offtake guarantees. Resource-rich countries can anchor themselves in China-linked supply chains, but must ensure technology transfer, environmental safeguards and local value addition. With mega projects becoming the norm, researchers warn that governments will need to scale up grid, port and workforce infrastructure to turn these investments into broad-based industrial gains.