China's Belt and Road Initiative delivering benefits to world

Source: Xinhua News Agency

The Belt and Road Initiative, the grand trade and infrastructure plan, may have only originated in China in 2013 but already it has delivered benefits well beyond its borders.

Building upon the spirit of the ancient routes, the modern Belt and Road Initiative is a transnational network connecting Asia with Europe and Africa, with the aim of promoting common development among all the countries involved.

The initiative is not a solo performance. It is a symphony played by multiple performers according to their talents. There can be no hogging the limelight of growth and development. The stage is big enough to be shared by all.

Openness, inclusiveness and mutual benefit are the hallmarks of the Belt and Road Initiative; the source of the strong support it has garnered.

Since 2013, over 100 countries and international organizations have given warm responses to the initiative, with the signing of nearly 50 inter-governmental agreements of cooperation.

The ambitious plan is not empty talk. It is a framework under which concrete, targeted projects and measures, which are consistent with local demands, are rolled out to aid development.

Chinese companies have invested more than US$50 billion and built 56 economic and trade cooperation zones in 20 countries along the routes, generating nearly US$1.1 billion in tax revenue, creating 180,000 local jobs and spurring the economic development of these countries.

A 3.37 kilometers water pipeline project, completed by a Chinese company, in a Jordanian township is among the latest infrastructure projects. A total of 500,000 people living in an area of extreme water shortage now have access to water 24 hours a day, thanks to the project.

In a month, China will host the Belt and Road Forum for International Cooperation to explore ways to address problems facing global and regional economy, create fresh energy for pursuing inter-connected development.

The significance of the event, which takes the theme "boosting cooperation and realizing win-win development," is especially timely given the rise of protectionism and anti-globalization.

The global economy has remained sluggish for quite some time. Income inequality and uneven development all weigh heavily on global social stability.

The Belt and Road Initiative, which embodies responsibility, win-win cooperation and genuine pursuit of common development, offers the world a Chinese approach to the challenges of today; a balanced, equitable and inclusive development model.

We are closer today than we have ever been. The world is a close-knit community of shared future. Our interests and pursuits are extensive and mutually dependent. We should all pursue a well-coordinated and inter-connected approach.

The history books can show us -- isolation and exclusivity will lead nowhere, neither will protectionism and anti-globalism deliver.

Opening up and cooperation are the prerequisites of a bright future, and China welcomes anyone who wants to jump on its express train of development.

We should continue to champion an open global economy to share opportunities and interests and achieve win-win results. Efforts need to be redoubled to develop global connectivity to enable all countries to achieve inter-connected growth and share the prosperity.

 

Belt and Road Initiative offers new development mode to world

Source: Xinhua News Agency

The Belt and Road Initiative is a new inclusive developing mode guided by the principle of achieving shared growth through discussion and collaboration, CPPCC National Committee member and international studies expert Zhang Yunling said during a recent exclusive interview with Xinhuanet.

China is to host the Belt and Road Forum for International Cooperation in Beijing from May 14 to May 15.

So far, more than 20 heads of state and government including Russian President Vladimir Putin, over 50 leaders of international organizations, 100 ministerial-level officials, as well as 1,200 delegates from various countries and regions will participate in the forum.

The forum aims to build consensus and reach agreements on major cross-regional projects through consultations, Zhang said.

The global economy has been mired in a prolonged recession since the global financial crisis in 2008.

According to Zhang, the sluggish recovery of world economy is mainly because the original growth mechanism through which the developing countries produce and developed countries consume fails to sustain.

The Belt and Road Initiative was proposed to help adjust the imbalance in development and therefore promote growth in world economy, Zhang explained.

In terms of the security and political risks during the implementation of the Initiative, Zhang maintained that risks are inevitable, but we should brave the difficulties and solve the problems in action.

There are two ways to cope with risks: One is to integrate these risks into a holistic planning; and the other is to build a security cooperation mechanism, he introduced.

"For instance, there may be obstacles in building roads and transportation, which can not be addressed by a single country. To jointly build a security mechanism may work, " Zhang said.

"The Belt and Road Initiative connects Europe, Asia and Africa via land and sea. It's impossible to build highway, high-speed railway and communication networks in a day. We must prepare for long-term efforts," Zhang added.

The Initiative, in Zhang's view, represents a new developing mode and direction.

"Land-sea connection under the Belt and Road Initiative is a further step in strengthening the opening-up policies. It will not only contribute to China's development, but also to coordinated regional development," said Zhang.

Scholars from the countries along the Belt and Road also speak highly of the initiative, Zhang noted.

"An Iranian professor said that the Initiative is a developing mode that quite differs from the Western ones. If it works, it will offer a new feasible choice to the world," Zhang mentioned.
 

Belt and Road Initiative leads globalization towards more inclusiveness

Source: Xinhua News Agency

The Belt and Road Initiative, evolving from a Chinese proposal to global consensus, is expected to usher in a new era of inclusive globalization, noted experts who attended a seminar held in Beijing on April 26, 2017.

The seminar, co-hosted by China Center for International Economic Exchanges (CCIEE) and the national high-end think-tank of Xinhua News Agency and taking “Belt and Road--a Colorful Road: Opportunities and Prospects” as its theme, has served as a prelude to the upcoming Belt and Road Forum for International Cooperation to be held from May 14 to May 15.

Liu Weidong, a researcher at the Institute of Geographic Sciences and Natural Resources Research of Chinese Academy of Sciences (CAS), pointed out that as economic globalization is at a crossroad and needs a new philosophy to move on, the Belt and Road Initiative is likely to offer a Chinese solution to the difficult situation of world economy and the reform of global economic governance structure. In this sense, the initiative will lead globalization towards more inclusiveness and bring in a new philosophy for the peace and development of the world.

“As a guide towards inclusive globalization, Belt and Road Initiative features in the following aspects. Firstly, it has laid emphasis on the function of both the government and the market. Secondly, it respects each country’s rights to explore and select development model with their own characteristics. Thirdly, the initiative is a systematic project which should be jointly built through consultation to meet the interests of all. Fourthly, the implementation of Belt and Road Initiative should abide by the concept of harmony in diversity,” explained Liu.

Zhang Yansheng, chief researcher of the CCIEE, voiced the similar opinion by saying that the implementation of the Belt and Road Initiative is based on inclusive and cooperation. Promoting it under the principle of achieving shared growth through consultation and collaboration will bring about new opportunities to the world. It not only enables Chinese enterprises to realize transformation, but also make people along the route get access to products ‘made in China’.”

“The Belt and Road Initiative is a driving force of globalization, as the countries along the route will draw benefit from the international production capacity cooperation and international capital flow,” said Wang Haifeng, director of the Department of International Trade and Investment Research at the Institute for International Economic Research of the National Development and Reform Commission (NDRC).

According to Wei Jianguo, executive deputy director of the CCIEE, the major difference between the Belt and Road Initiative and other international cooperation platforms lies in that the former’s inclusiveness and openness.


 

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