Belt and Road initiative Economy

China to carry out construction on five areas under B&R

Chinese National Development and Reform Commission (NDRC) noted on August 17 that China will promote the construction of Belt and Road (B&R) on the following five areas, according to the report of

Firstly, the country has made efforts to implement the achievements of the Belt and Road Forum for International Cooperation, and ensure that the signed agreements and regulations will be put into effect. Meanwhile, cooperation platforms, such as development center under Belt and Road Initiative and multilateral development of financing cooperation center will be set up.

Secondly, China will actively and steadily advance the construction of landmark projects. Together with local countries, the country is expected to jointly promote projects for interconnection and capacity cooperation as well as the systematic engineering construction, and strengthen the economic “soft links”, which require paying extra importance to language, culture, spirit and communication in such standards and systems.

Thirdly, the country will expand the cooperation of the real economy. Through direct investment, merger and acquisitions, shareholding operations and other means, the government will guide enterprises to actively participate in international competition, so as to improve the quality of the real economy and acquiring a growth momentum.

Fourthly, the country will promote financial innovation under the Belt and Road and further improve the financing functions of the developmental and policy-based financing institutions as well as other bilateral cooperative funds, including the Silk Road Fund. Meanwhile, the government will carry out international financial cooperation and work out a long-term financing mechanism for the Belt and Road construction in practical innovation services.

Fifthly, China will strengthen regulations to prevent overseas security risks, while guiding and cooperating with enterprises towards exploiting external markets and increasing their awareness and mechanisms for risks prevention. The government will also avert irrational foreign investment, vicious competition and corruption, while promoting healthy and orderly development of foreign economic and trade cooperation.

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