China plans to invest $10 billion in mining and metals overseas this year, aiming to maintain its position as the world's largest manufacturer of renewable energy.

According to recent data, China is expected to invest a record amount in mining and metals overseas this year as it scrambles to obtain resources to maintain its position as the world's largest manufacturer of wind turbines, solar panels, electric vehicles, and batteries. Chinese investments and new contracts in the mining and metals industry exceeded $10 billion in the first half of this year, according to research from the Green Finance & Development Center at Fudan University in Shanghai that was examined by the Financial Times.

With that amount exceeding the 2022 full-year total, this year's investments are expected to surpass the previous high of $17 billion set in 2018. In addition to uranium, steel, and iron, China has invested in the sector with nickel, lithium, and copper projects.

This shows how Chinese businesses are working harder to secure access to resources throughout the clean technology supply chain, anticipating a surge in long-term demand as the world battles climate change. The investments, which have taken place throughout South American, Asian, and African nations, also demonstrate President Xi Jinping's goal of achieving economic independence as he works to protect China from the effects of escalating geopolitical tensions with the US.