Belt and Road Initiative charts new course for inclusive globalization

China published a report elaborating on the progress, contributions and prospects of the Belt and Road Initiative (BRI).

The document was released on April 22 during a press conference held by the State Council Information Office of China ahead of the second Belt and Road Forum for International Cooperation in Beijing from April 25 to 27.

It was prepared by the office of the leading group for promoting the BRI.

Substantial progress has been made since the inception of the program, said Song Lihong, director general of the Comprehensive Department of the Ministry of Commerce.

During 2013-2018, the trade import and export volume between China and countries participating in the BRI exceeded $6 trillion, registering an annual growth rate of four percent. Besides, Chinese enterprises have invested over $90 billion in countries along BRI and direct investment from countries along BRI to China has also surpassed $40 billion.

A number of major infrastructure projects are up and running, including the Addis Ababa-Djibouti Railway, Gwadar port in Pakistan and China-Maldives Friendship Bridge. China has stepped up efforts to build free trade areas with BRI countries to facilitate trade and investment.

For China, the Belt and Road Initiative is a master plan for opening-up and economic cooperation. For the world, it offers a public platform for mutual development and shared prosperity, said Xiao Weiming in response to a question from a CCTV reporter.