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Report: China, Belt and Road countries trade volumes totals to $1.1tr

China Trade

According to a new report, between China and countries along the Belt and Road, trade volume added to $1.1 trillion in 2017, up 14.8 percent year-on-year, which is 3.4 percentage points higher compared to the growth of the country’s total foreign trade.

The Belt and Road initiative, proposed by Chinese President Xi Jinping in 2013, basically refers to building a Silk Road Economic Belt and the 21st Century Maritime Silk Road. It has been well recieved by over 140 countries and regions in the last 5 years span.

Over the past five years, the initiative has been positively echoed by over 140 countries and regions, and fruitful cooperation achievements have been yielded under its framework.

Praising a more diversified investment portfolio, the minister said that China had altogether invested over $60 billion to on-route countries in various sectors such as agriculture, manufacturing and infrastructure. According to the report, various projects were making good progress too. It includes the construction of railways, energy, expressways, ports and resources and the operation of manufacturing projects.

China has established 75 zones for economic and trade cooperation in countries along the routes, with a total investment of more than $27 billion.

The minister said the Belt and Road should be built into a road of peace, prosperity, opening up as well as innovation, and one that connects different civilizations.

For the next step, the ministry will launch new cooperation platforms including the first China International Import Expo, build major investment and foreign aid projects and make them well received like shiny pearls along the Belt and Road.

China will also support e-commerce through big data, promote the liberalization and facilitation of trade and investment along the Belt and Road and implement major foreign aid projects.

SOURCE: https://pakobserver.net/china-belt-and-road-countries-trade-volumes-amounted-to-1-1tr/

 

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