China spending on Belt and Road energy projects drops 28% to $14bn

China's financing for Belt and Road energy projects dropped 28% to $14.3 billion last year, from $19.9 billion. The slowdown in spending came as the government cracked down on capital outflows, scrutinising companies from HNA Group to Anbang Insurance Group that expanded rapidly overseas.

Spending last year included investments in gas pipelines in Malaysia, coal power plants in the Pakistani desert and an oil terminal in Bangladesh.