Skip to main content

Xinhua Commentary: Belt and Road gains momentum in challenging times

Abstract : Entering its eighth year of solid progress, the Belt and Road Initiative (BRI) is injecting growing impetus and stability into global cooperation in a world of uncertainties.

BEIJING, April 28 (Xinhua) — Entering its eighth year of solid progress, the Belt and Road Initiative (BRI) is injecting growing impetus and stability into global cooperation in a world of uncertainties.

Just days ago at the Boao Forum for Asia annual conference, Chinese President Xi Jinping likened the BRI to “a public road open to all” rather than “a private path owned by one single party.” His use of this analogy indicates that China, as the initiator of the BRI, endeavors to share opportunities with the rest of the world.

Faced with the unprecedented challenges of COVID-19, rising unilateralism and increasing protectionism, the world requires closer ties among all nations. Against this backdrop, the BRI is particularly valuable for cementing connectivity, bridging differences and advancing global cooperation.

Facts speak louder than words. Bucking a global COVID-19-driven downturn, China’s non-financial direct investment into countries along the Belt and Road jumped 18.3 percent year on year to 17.8 billion U.S. dollars in 2020.

Trade is also thriving along the ancient but exuberant pathway, which has helped transport valuable medical supplies to those in urgent need amid COVID-19.

In the first quarter of this year, the China-Europe freight train services recorded 3,398 journeys, surging 75 percent year on year. A total of 89,000 tonnes of anti-pandemic supplies had been transported across continents via the services by late March.

China is also working with all willing participants to build the BRI into a pathway to poverty alleviation and growth. According to a report from the World Bank, Belt and Road projects could by 2030 help lift 7.6 million people out of extreme poverty and 32 million people out of moderate poverty across the world.

As of the end of January, a total of 171 countries and international organizations have signed 205 cooperation agreements with China on the joint construction of the Belt and Road.

With more partners jumping on board for a mutually beneficial journey, there is more to expect in the future: Countries can work together to fight COVID-19, economic slowdowns, poverty, climate change and other common challenges, regardless of geographical or ideological boundaries. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: Xinhua Commentary: Belt and Road gains momentum in challenging times

Labels:

Comments

Post a Comment

Popular posts from this blog

China’s non-manufacturing PMI down in April

Abstract : The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 54.9 in April, down 1.4 percentage points from the March figure, the National Bureau of Statistics said Friday. BEIJING, April 30 (Xinhua) — The purchasing managers’ index (PMI) for China’s non-manufacturing sector came in at 54.9 in April, down 1.4 percentage points from the March figure, the National Bureau of Statistics (NBS) said Friday. A reading above 50 indicates expansion, while a reading below reflects contraction. The expansion of the non-manufacturing sector continued to gather momentum but at a slower pace, said senior NBS statistician Zhao Qinghe. In April, the sub-index for business activities in the services sector stood at 54.4, down from 55.2 in March. The sub-indexes for business activities in rail services, air transportation and accommodation came in at above 65, indicating the rapid growth of business volumes in these areas, according to Zhao. The statisti...
Post a Comment
Read more

China expands QDII quotas as outbound investment demand grows

Abstract : China's foreign exchange regulator on Wednesday night expanded quotas under an outbound investment scheme to meet the growing demand of domestic investors. BEIJING, June 3 (Xinhua) — China’s foreign exchange regulator on Wednesday night expanded quotas under an outbound investment scheme to meet the growing demand of domestic investors. A total of 10.3 billion U.S. dollars in quotas was granted to 17 institutions under the Qualified Domestic Institutional Investor (QDII) program, a scheme for outbound investment , according to the State Administration of Foreign Exchange (SAFE). Among these institutions were fund companies, securities firms and insurers, as well as banks, said the regulator. The move brought China’s total QDII quota to 147.32 billion U.S. dollars. Under the QDII program, the country’s cross-border capital flows have been maintained in an orderly manner, satisfying the rising demand for outbound investment at home, said a SAFE official. T...
Post a Comment
Read more

Interview: Egyptian-Chinese cooperation against COVID-19 reflects strength of ties, says Egyptian minister

Abstract : Egyptian-Chinese cooperation in the fight against the COVID-19 pandemic reflects the strength and durability of the two countries' relations, said Egyptian Minister of State for Information Osama Heikal. SHARM EL SHEIKH, Egypt , Sept. 27 (Xinhua) — Egyptian-Chinese cooperation in the fight against the COVID-19 pandemic reflects the strength and durability of the two countries’ relations, said Egyptian Minister of State for Information Osama Heikal. “In such circumstances, countries need to cooperate with each other in a way that demonstrates solidarity and reflects strength in relationships … Egyptian-Chinese cooperation is a good example,” the minister told Xinhua in a recent interview. Egypt-China relations are strong and deeply-rooted, and will gain a greater momentum in the coming years, he said. The minister praised China’s handling of the pandemic, saying that every country has dealt with the crisis according to its own circumstances. “I believe that the E...
Post a Comment
Read more