Forum focuses on Belt and Road infrastructure construction

The construction of the Lagos-Ibadan railway project started on March 7, 2017.

Moody's has given its highest rating of Aaa to the Asian Infrastructure Investment Bank on a par with the World Bank.

Since its foundation one and a half years ago, the AIIB has gained wide recognition from the international community, with the number of members rising from 57 to 80. The infrastructure construction projects it has funded have also become a focus of world attention.

More than 1,700 officials, delegates of financial agencies, enterprises and advisory bodies attending an international forum on infrastructure construction and financing ensured the AIIB and Belt and Road Initiative projects were key topics during the event in Macao in early June.

World Bank Vice Governor Hartwig Schafer points out that future infrastructure construction will involve two key roles: innovation in financing and creation of new ways of cutting costs, green construction and development of smart cities.

Yu Jianhua, China's vice-minister of commerce, said financing is a major bottleneck, as there is a gap of trillions of dollars between infrastructure construction on the one hand and the huge amount of funds unable to find the right channel to enter the market.

Also planning, policies and technological standards differ from one country to another especially in the less developed countries.

Yu said it was clear relevant parties had to create new financing models, promote the build-operate-transfer and public-private-partnership models to attract commercial private equity funding and social capital.

The China International Contractors Association published a guide on sustainable infrastructure construction in other countries for Chinese enterprises during the forum, covering 68 indicators in four aspects: economy, society, environment and sustainable development, as reference points.

The association's member enterprises operate businesses in more than 180 countries. Last year, their business turnover hit $160 billion, and new contracts were signed worth $244 billion.

Fang Qiuchen, chairman of the association, said Chinese contractors are important participants in the global infrastructure construction market. After China proposed the Belt and Road Initiative, there was increased momentum in them taking part in infrastructure constructions in the countries involved.

He urged Chinese enterprises to carefully consider the interests of the local government, suppliers, investors, social organizations and local residents abroad, and adhere to a sustainable development concept.

The Chinese enterprises should improve their adaptability to possible changes in other countries in the long run, so as to guarantee the sustainability in infrastructure construction, Fang added.