Skip to content
President says gathering sets stage for more Belt and Road progress, cooperation
More than $64 billion in deals were signed during the Second Belt a
nd Road Forum for International Cooperation, President Xi Jinping told members of the me
dia from home and abroad in Beijing after the three-day event concluded on Saturday.
In addition, Xi said, during the preparation and holding of the fo
rum, parties reached 283 pragmatic outcomes, including intergovernmental cooperation agre
ements, cooperative projects and the launch of multilateral cooperation platforms.
The outcomes fully demonstrate that joint building of the Belt and Road conforms to the trend of the times, wi
nning the hearts of the people, improving livelihoods and benefiting the whole world, he said.
of cooperation, defined key areas and strengthened the mechanism to seek high-quality development of the BRI, he said.
Leaders reached wide-ranging agreement on high-quality cooperation on the BRI at the leaders’ roundtable on Saturday after an i
n-depth exchange of views on issues such as connectivity, policy integration and sustainable development.
They supported comprehensive infrastructure connectivity as a way to foster economic growth and to build high-q
uality, reliable, resilient and sustainable infrastructure, according to a joint communique issued after the roundtable.
All parties involved supported strengthening synergies in development policies using the principle
of extensive consultations, joint contributions for shared benefits and building even closer partnerships, the joint communique said.
The leaders also upheld green and sustainable growth and agreed to enhance cooperation in areas such as environ
mental protection, circular economy and clean energy, according to the communique.
multilateral trade agreements, saying that Chinese people value a promise as much as tons of gold.
China pays close attention to building a law-based government, abolishing improper r
ules, subsidies and activities that undermine fair competition and treating all enterprises equally, Xi said.
The president highlighted building infrastructure of high quality, sustain
ability, risk resilience, reasonable pricing, inclusiveness and accessibility under the Belt and Road Initiative.
Infrastructure is a bottleneck in the development of many nations
, Xi said, and building infrastructure can help countries give full play to their ad
vantages in resources and better integrate into the global supply, industry and value chains.
Xi called on countries to uphold multilateralism, promote green devel
opment and fight corruption with zero tolerance in the process of building the Belt and Road.
financing cooperation center has recently been established — jointly with eight multilateral develo
pment institutions including the World Bank, Asian Development Bank and Asian Infrastructure In
vestment Bank — to prepare for “high-quality” projects and promote international standards for BRI financing.
Chinese financial institutions have provided more than $440 billion for BRI infrastructure projects. Renminbi-denom
inated overseas investment funds amounted to over 320 billion yuan ($47.49 billion) and the Chinese capital mark
et has helped companies raise 500 billion yuan through equity funding. BRI countries and companies have issued mor
e than 65 billion yuan in Panda bonds in the Chinese onshore market, according to the central bank.
The World Bank said BRI cooperation is predicted to reduce global trade costs by 1.1 percent to 2.2 percent in 2019.