China signs CMEC MOUs with Myanmar

China has signed memorandums of understanding (MOUs) with Myanmar on the joint construction of the China-Myanmar Economic Corridor (CMEC), which analysts said is a further sign of Myanmar's willingness to integrate and benefit from the Belt and Road (B&R) initiative.

He Lifeng, chairman of the National Development and Reform Commission (NDRC), China's top economic planner, and Myanmese Minister of Planning and Finance U Soe Win, represented the two nations in signing the MOUs on Sunday, according to a statement published on the NDRC website on Monday.

CMEC, an important part of the B&R initiative, is a 1,700-kilometer-long corridor that connects Kunming, capital of Southwest China's Yunnan Province, with three economic centers in Myanmar - Mandalay, Yangon New City and Kyaukpyu Special Economic Zone. The corridor marks the largest foreign investment in Myanmar in years, media reports said.

"CMEC is an agreement that combines China's demands with the development impulses of Myanmar, allowing Myanmar's most developed regions to boost trade connectivity with China, while also providing China with an alternative way to transfer oil from the Indian Ocean," Xu Liping, an expert in Southeast Asian studies at the Chinese Academy of Social Sciences, told the Global Times on Monday.

Editor: 曹家宁
Today’s Recommendations

China's import expo opens, Xi urges building an open world economy

Chinese President Xi Jinping announced the opening of the world's first import-themed national-level expo in Shanghai on Monday, calling it a "trail-blazing" move in the history of international trade development.【detailed】

Cooperation under BRI accelerates Sri Lanka's port industry development

China-Sri Lanka cooperation in the port industry under the Belt and Road Initiative has brought visible benefits to Sri Lanka's port development over the past years.【detailed】
Related Stories