Dual circuit breaker in China in Afghanistan

Did China invest $540 million in Afghanistan?

Under the 25-year contract, China pledged to invest $540 million in the first three years. How did a Major Chinese Investment in Afghanistan Collapse? "The contract specifies that the oil will be processed in Afghanistan," noted Afghanistan's then-Acting Minister of Mines and Petroleum Shahabuddin Delawar.

Why did China sign a deal with Afghanistan?

At a signing ceremony in Kabul, China's envoy, Wang Yu, hailed the deal as "an important project" between the two countries. It was the first — and at the time, only — foreign investment in Afghanistan since the Taliban took back power in August 2021. Under the 25-year contract, China pledged to invest $540 million in the first three years.

Did the Taliban confiscate Chinese employees' passports?

Three Chinese sources — including two Chinese employees and the spouse of a third — and one Afghan source, all with direct knowledge of the matter, say that the Taliban then confiscated the passports of a dozen Chinese employees, effectively barring them from leaving the country.

Why did China move to Afghanistan?

After the U.S. withdrew from Afghanistan four years ago, China quickly moved to fill the vacuum left by the Americans. Both Afghanistan's mineral resources, estimated to be worth more than $1 trillion, and its strategic location — bordering China's Xinjiang region — are among top priorities for Beijing.