PresidentXiJinpingaddressesasymposiummarkingthefifthanniversaryoftheBeltandRoadInitiativeinBeijingonAugust27XINHUAFiveyearsago,intheautumnof2013,ChinesePresidentXiJinpingproposedthebuildingoftheSilkRoadEconomicBeltduringavisittoKazakhstanandthe21stCenturyMaritimeSilkRoadwhileinIndonesia,whichhavecollectivelybecomeknownastheBeltandRoadInitiative.
TheinitiativeservesasasolutionforChinatoparticipateinglobalopeningupandcooperation,improveglobaleconomicgovernance,promotecommondevelopmentandprosperity,andbuildacommunitywithasharedfutureformankind,XisaidatasymposiummarkingthefifthanniversaryoftheBeltandRoadInitiativeinBeijingonAugust27.
Hecalledforeffortstoupholddialogueandconsultation,jointcontribution,sharedbenefits,win-wincooperation,exchangeandmutuallearningandtopromotemutualpoliticaltrust,economicintegration,andpeople-to-peopleexchangeswithBeltandRoadcountriesinordertoadvancetheinitiativestepbysteptoproduceresults.
AsofJuly,morethan100countriesandinternationalorganizationshadsignedBeltandRoadcooperationdocumentswithChina,extendingtheinitiative’sscopefromtheEurasiancontinenttoAfrica,LatinAmericaandtheCaribbean,andtheSouthPacific.
China’stotaltradewithcountriesalongtheBeltandRoadinthepastfiveyearsexceeded$5trillion,withannualaveragegrowthof1.1percent,accordingtoQianKeming,ViceMinisterofCommerce.
“Chinahasbecomethelargesttradingpartnerof25ofthesecountries,”QiansaidatapressconferenceheldbytheStateCouncilInformationOfficeinBeijingonAugust27.
Highqualitydevelopment
ThenextpriorityforjointlyadvancingtheBeltandRoadInitiativeistorealizeitshigh-qualitydevelopment,Xisaidatthesymposium.HeurgedeffortstopushforprogressinBeltandRoadprojects,especiallythosedeliveringrealbenefitstolocalpeople,andtokeepexpandingthemarketwhilemaintainingatradebalance.
Alsointhepastfiveyears,82overseaseconomicandtradecooperationzoneshavebeenestablishedincountriesalongtheBeltandRoad,withaccumulatedinvestmentof$28.9billion.Thezoneshaveattractednearly4,000enterprises,creating$2billionworthoftaxrevenueforthesecountriesandproviding244,000localjobs,MinistryofCommerce’sdatashowed.
XiadvocatedapolicysystemoffinancialsupportfortheinitiativeandencouragedprivatefundingsourcestoinvestininfrastructureandresourcedevelopmentprojectsinBeltandRoadcountries.
Theconstructionprojectshavegonethroughsoundfeasibilitystudiesandstrictloanreviews,withbindingrequirementsontheproportionofpropertyinvestmenttototalinvestment,asset-liabilityratioandcapitalreturn,saidNingJizhe,chiefoftheNationalBureauofStatisticsandViceMinisteroftheNationalDevelopmentandReformCommission,duringthepressconference.
In2014,Chinaannouncedthatitwouldcontribute$40billiontowardaSilkRoadFundtosupportBeltandRoadprojects.Ayearlater,theAsianInfrastructureInvestmentBank,aChina-initiatedmultilateralfinancialinstitution,wasestablished.
Xistressedthatinvestmentactivitiesshouldberegulatedandbusinessesshouldoperateinaccordancewithlawsandregulations,payattentiontoenvironmentalprotectionandfulfilltheirsocialresponsibilities.
WhenmakinginvestmentsorfinancingBeltandRoadprojects,Chinaalwaysstickstoaneconomicbenefit-orientedapproach,extendingloansbasedontherealconditionsintherelevantcountries,supportingprojectconstructionandavoidingthecreationofmoredebtrisksoranincreaseinthefiscalburdensofhostcountries,saidNing.
Inthefirstsevenmonthsof2018,Chinesecompaniesraisedinvestmentin54countriesalongtheBeltandRoad.This$8.55-billioninvestmentrepresentedan11.8-percentincreaseyearonyear.
Beforefinancingaproject,Chinesebanksalwaysscrutinizetheliabilitiesandrepaymentabilitiesofborrowers.Afterextendingloans,theycontinuetomonitorcountryandsovereignrisks,Ningadded.
Commondevelopment
OnAugust26,freighttrainX8044arrivedinWuhanincentralChina’sHubeiProvincefromHamburg,Germany,markingthecompletionofthe10,000thtripsincetheChina-Europefreightrailservicewaslaunchedin2011.
TheexpandingrailnetworkhasbecomeanimportantpartoftheBeltandRoadInitiative.Ittransportsgarments,autoparts,chemicalsandotherChinesegoodstoEurope,whilebringingEuropeanfood,machinery,equipmentandtimberproductstoChina.
XipointedoutthatjointlypursuingtheBeltandRoadInitiativeisnotonlyaimedateconomiccooperationbutisalsoanimportantpathwaytoimprovingglobaldevelopmentpatternsandglobalgovernanceandpromotingthehealthydevelopmentofeconomicglobalization.
InMay2017,BeijinghostedthefirstBeltandRoadForumforInternationalCooperationattendedbystateandgovernmentleadersfrom29countries.Themorethan1,600participantscamefromover140countriesand80internationalorganizations.Overall,theforumproduced279agreements,amongwhich265havebeensettledandanother14arebeingnegotiated.
“ThebroadsupportfortheBeltandRoadInitiativeshowstheaspirationsofcountriesinvolved—developingcountriesinparticular—forpeaceanddevelopment,”Xisaid,notingthattheinitiativeisaprojectforeconomiccooperationandnotageopoliticalallianceormilitaryleague;itisanopenandinclusiveprocessratherthananexclusiveblocorso-called“Chinaclub.”
Xisaidworkshouldbedonetoboostexchangesineducation,science,technologies,culture,sports,tourism,healthandarchaeology.Undertheinitiative,Chinahassetup81educationalinstitutionsandprojectsaswellas35culturalcentersincountriesalongtheBeltandRoad.
“Itdoesnotdifferentiatecountriesbyideology,norplayazero-sumgame.Aslongascountriesarewillingtojoin,theyarewelcome,”Xisaid.
(XinhuaNewsAgencycontributedtothisreport)
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