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Chinese President Xi Jinping said Sunday that China will launch Belt and Road cooperation initiative on trade connectivity together with some 60 countries and international organizations.
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China will put in place a Research Center for the Belt and Road Financial and Economic Development, the Facilitating Center for Building the Belt and Road, the Multilateral Development Financial Cooperation Center in cooperation with multilateral development banks, and an IMF-China Capacity Building
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Global growth requires new drivers, development needs to be more inclusive and balanced, and the gap between the rich and the poor needs to be narrowed, he noted. He also pointed out that hotspots in some regions are causing instability and that terrorism is rampant.
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"Rather, it aims to complement the development strategies of countries involved by leveraging their comparative strengths," Xi said in a keynote speech delivered at the opening ceremony of the Belt and Road Forum for International Cooperation.
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Trade between China and other Belt and Road countries exceeded 3 trillion U.S. dollars in the 2014-2016 period, and China's investment in these countries surpassed 50 billion dollars, he said.
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The ancient Silk Road represents an extraordinary accomplishment in terms of its cultural significance, praised Helga Zepp LaRouche, chair of the Germany-based Schiller Institute, explaining that it needs unparalleled courage and efforts to build it.
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Upon the open of Chongqing-Guangxi-Singapore international sea-rail route, the goods can arrive at their destinations over 20 days ahead compared with the previous sea transportation.
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COSCO plans to boost the port's container traffic to 5 million TEUs by 2018, which means the port would then be among the world's 30 largest container ports, Pitsiorlas said, adding that COSCO will add new investment in the port.
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Chinese companies have abundant experience in infrastructure construction, while the British firms have advantages in financial and legal services, project design, sustainable and green development, management, consultation and education, she elaborated.
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China has primarily formed a satellite communication service system composed of fixed communication broadcast, mobile communication and data relay. It has 17 orbiting communications satellites for civil and commercial use and nearly 300 transponders to extend service to countries in South Asia, Afri
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The made-in-China products and Chinese service are now gaining more popularity among the “Belt and Road” countries, and its manufactured rail cars and telecommunication services are proven to be representative name cards.
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Globalization in the past depended on navigation technology. Nowadays, the highway and high-speed rail have broken the limits of inland and maritime economy. The recent launch of a freight train from Yiwu, Zhejiang Province to Europe is one such example.