BEIJING - Acquisitions and investments related to China's Belt and Road Initiative are expanding, promoting social and economic development in relevant countries, a think-tank report has said.

Since 2015, Chinese investment in the area has been growing consistently, according to a report released Monday co-authored by the Chinese Academy of Social Sciences (CASS) and China Bond Rating.

Most of the investment has gone to ASEAN countries, the Middle East and South Asia.

Energy, transportation and information technology sectors received most of the investment, it said.

Despite an increase in absolute volume, share of China's investment along the Belt and Road in the nation's overall outbound investment remains tiny, highlighting multiple risks faced by Chinese investors, the report said.

Zhang Ming, a researcher with CASS, said ethnic and religious factors, a changing geopolitics landscape, as well as weak and unbalanced global economic growth pose big challenges for Chinese investors.

"China has invested more than $50 billion in countries along the Belt and Road since proposing the initiative in 2013," He Lifeng, head of the National Development and Reform Commission, said in early March.

The initiative was proposed by China to create a trade and infrastructure network connecting Asia with Europe and Africa along ancient trade routes.