Commodities
China Keeps Unprecedented Hold on Metals With Mining Push Abroad
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China last year committed more resources than ever to mining abroad as part of Xi Jinping’s global infrastructure program, a new study found, underscoring its growing grip on the metals supply chain just as fears of over-reliance on Beijing grow around the world.
China’s involvement in the metals and mining sector — in the form of equity investments and construction contracts — reached over $21 billion under Xi’s Belt and Road Initiative, according to a report from Griffith University in Australia and the Green Finance & Development Center, founded at Shanghai-based Fudan University. The tally marks the highest since the Chinese president’s signature effort started in 2013.