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'One Belt, One Road' forum gains heat at the WEF


06-28-2016 16:27 BJT

Full coverage: Summer Davos Forum 2016

Full coverage: Belt and Road Initiative

Among many subforums being held in Tianjin, the discussion on the one belt one road initiative links Chinese entrepreneurs to trade ministers from other countries. The entrepreneurs say the private sector will be the backbone for Chinese firms' expansion abroad.

At the world economic forum in Tianjin, many Chinese firms say they value the opportunity to develop overseas, while they also caution on risks.

"The biggest challenge is risk. Only by locating a local partner could we avoid risks," said Li Huaizhen, China Minsheng Investment Group CEO.

As the global economy remains soft, experts say the one belt one road initiative could provide more opportunities for business and eventually, a new round of growth.

"For China, the most important market used to be advanced economies and east Asia. Both of them would see declining growth. Whether China could explore new markets as drivers for our global growth? One Belt One Road initiative is very meaningful for this matter," said Huang Yiping, deputy dean of National School of Dev't, Peking University.

Others say it is time to advance the connectivity among regional partners.

"Countries along the belt and road initiative would be hot destinations for energy infrastructure. We need a sophisticated system to support companies expanding overseas, especially for those private companies," said Gao Jifan, Trina Solar CEO.

Analysts say that in the long term, better connectivity would bring out an economic union, which would enable countries to coordinate their tariffs, currencies and financial policies, and find an effective model to deal with disputes.

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