Xi: Advance initiative to benefit people along routes

Source: CCTV.com     Updated: 2016-10-12 11:06:14

Chinese President Xi Jinping has called for the steady advancement of the Belt and Road Initiative to benefit people along the two routes. He also said China is willing to give other countries 'a ride' on the country's development. He made the remark at a symposium on the initiative on Wednesday.

The Belt and Road is aimed at building a trade and infrastructure network that links Asia to Europe and Africa.

Three years after the initiative was proposed, President Xi Jinping said the progress and results have been greater than expected.

More than 100 countries and international organizations have participated in the initiative.

China has signed agreements with more than 50 countries on jointly building the routes and production capacity.

Xi said the initiative is an opportunity to rebalance and stabilize the world economy... as it promotes transnational interconnection... and improves cooperation in trade and investment, as well as international capacity and equipment manufacturing.

He outlined some priorities such as infrastructure construction, optimal use of resources, core technology research and development, AND financial innovation.

Xi also encouraged Chinese companies to invest in countries along the routes of the Belt and Road Initiative. He also welcomed any investment from these countries.

The Belt and Road refers to the Silk Road Economic Belt -- a land-based route from China through Central Asia and Russia to Europe, and the 21st Century Maritime Silk Road, which goes through the Strait of Malacca to India, the Middle East and East Africa.
The routes involve about 60 percent of the world population, who create some 30 percent of the world's total gross product.