BRI cooperation adds vitality to economic globalization: white paper

BEIJING, Oct. 10 (Xinhua) -- The Belt and Road Initiative (BRI) is adding vitality to economic globalization, said a white paper released by China's State Council Information Office on Tuesday.

The white paper, titled "The Belt and Road Initiative: A Key Pillar of the Global Community of Shared Future," said against a rising tide of de-globalization, the BRI is committed to global connectivity and interconnected development.

"By expanding economic globalization and distributing its benefits fairly, the BRI aims to promote global development that is balanced, coordinated, inclusive and shared by all, and that brings win-win cooperation and common prosperity," the white paper said.

The BRI has connected the vibrant East Asia economic circle at one end, the developed European economic circle at the other, and the countries in between with huge potential for economic development, and fostered closer economic cooperation with African and Latin American countries, according to the white paper.

Efforts have been made to promote global trade, according to the white paper. The BRI has eliminated internal, transnational, and inter-regional transport bottlenecks and barriers to trade and investment cooperation, made cross-border logistics and foreign trade easier and more convenient, and increased the efficiency of domestic and international cooperation.

The BRI has made participating countries more attractive to quality global capital, the white paper said. Direct cross-border investment in Southeast Asia, Central Asia and other regions has risen steadily. In 2022, cross-border direct investment inflows in Southeast Asia accounted for 17.2 percent of the global total, 9 percentage points higher than in 2013.