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New Silk Road plan to enhance connectivity


09-27-2016 05:53 BJT

China proposed the 'Belt and Road' Initiative to better engage with the region and the world. The initiative was introduced by President Xi Jinping in 2013. Its progress and results over the past three years have been greater than expected. As of the end of June this year, over thirty countries along the Belt and Road had signed cooperation agreements with China. China is working with nineteen countries on 40 infrastructure projects in power, electricity transmission, oil and gas transportation and other energy programs.

China has invested about fifty billion US dollars in countries along the Belt and Road region. This accounts for about 12 percent of its overseas direct investment. China's goods trade in these areas is over three trillion US dollars, accounting for 26 percent of the total amount of its foreign trade.

Under the new Silk Road plan, China launched over 50 economic and trade cooperation zones, linking together all of its neighbors in Asia and Europe. The Asian Infrastructure Investment Bank approved half a billion US dollars in June for investment projects in power, transportation, and urban development in Bangladesh, Indonesia, Pakistan and Tajikistan.

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