Belt and Road promotes economic globalization: official

The Belt and Road Initiative, as an open and inclusive platform, will promote the spread of China's development experiences and deepen international practical cooperation, and thus advance economic globalization, commented Shi Yaobin, vice minister of Finance Ministry, in a recent interview with the media outlets during the autumn annual meeting of the IMF and the World Bank in Washington DC.

The Belt and Road Initiative is warmly welcomed and supported by the international community, he said.

During the annual meeting, the Finance Ministry and the World Bank co-hosted a high-level seminar on the Belt and Road Initiative.

Shi said the ministry and the World Bank's seminar is conducive to widening the scope of the Belt and Road Initiative. The participants can talk about how to expand cooperation under the Initiative's framework.

The world is going through profound changes. Economic globalization faces mounting challenges. It will take the concerted efforts of different countries to cope with these challenges, Shi said at the seminar.

The Finance Ministry of China and the finance ministries of other 26 countries approved the Belt and Road financing guidelines in May, and the ministry signed the Belt and Road cooperation memorandums of understanding with the World Bank, Asian Infrastructure Investment Bank, New Development Bank, Asian Development Bank, European Investment Bank and European Bank for Reconstruction and Development.

The ministry will build a multilateral development financing cooperation center with the Multilateral Development Banks, Shi added.

Editor: zhangjunmian