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China invests 50 bln USD in countries along the Belt & Road route

Reporter: Wang Tongxuan 丨 CCTV.com

09-27-2016 05:53 BJT

More than 300 guests have gathered in the ancient Chinese city of Xi'an for an international seminar on the Belt & Road Initiative. With the theme 'shared memory, common development', the seminar seeks to explore ways to expand on the concept.

It’s been three years since Chinese President Xi Jinping put forward the proposal to revive the ancient trade route and look for shared growth.

"We should note that the outcomes in terms of speed and scale of the belt and road initiative have been better than expected. Now we have a clearer vision of the prospects of this initiative and are more confident in accomplishing it," said Liu Qibao, member of Political Bureau of the CPC Central Committee.

Today more than 100 countries and international organizations are involved.

A research conducted by Renmin university reveals that China has invested about 50 billion US dollars in the countries along the route, and this accounts for about one-eighth of its overseas direct investment.

To eliminate tax barriers, more than treaties were signed.

In June, the new Asian Infrastructure Investment Bank provided half a billion UD dollars on investment projects in power, transportation, and urban development in Bangladesh, Indonesia, Pakistan and Tajikistan.

Xi’an is the birthplace of Chinese civilization, but it was also the starting point of the ancient Silk Road.

No better place to draw in experts and stakeholders to discuss its prosperous future.

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