According to Baker McKenzie, Chinese government statements indicae that 50 state-owned firms have invested or participated in almost 1,700 projects in countries along Belt and Road’s path over the past three years. For many Chinese construction and engineering giants, many of them state-owned, the overseas market is crucial — particularly as their domestic market slows. According to China International Capital Corp. for example, Hong Kong-traded Metallurgical Corp of China Ltd. posted a whopping 167 percent surge in overseas new orders in January and February from a year earlier; Shanghai-listed Sinoma International Engineering Co (China) made 81 percent of its revenue in 2017 from abroad, according to China International Capital Corp.