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B&R Key Words (7): Economic Corridors (Part II)

Editor: Qian Ding 丨CCTV.com

05-02-2017 15:40 BJT

Editor's Note: Keywords to Understand China: the Belt and Road Initiative is a selection of "China Keywords" entries included in an eponymous multilingual platform to help readers better understand China's B&R Initiative. It is one of the major projects implemented by the China International Publishing Group and the China Academy of Translation.

China-Indochina Peninsula Economic Corridor

China and the Indochina Peninsula are connected by land and sea, with close geographical, cultural, and people-to-people ties. The Indochina Peninsula is an important link on the Belt and Road.

The China-Indochina Peninsula Economic Corridor (CICPEC) extends from China's Pearl River Delta westward along the Nanchong-Guang'an Expressway and the Nanning-Guangzhou High-speed Railway via Nanning and Pingxiang to Hanoi and Singapore.

This land bridge links China with the Indochina Peninsula and crosses the heart of Vietnam, Laos, Cambodia, Thailand, Myanmar and Malaysia. It is also expected to boost China's cooperation with the ASEAN countries.

The CICPEC project aims to better connect cities in this region with a network of railways and highways to facilitate the flow of people, goods, capital and information.

It will open up new opportunities for strategic cooperation, and create a regional economy bolstered by complementary strengths to ensure sound regional development.

By creating new regional growth drivers, it will help achieve common prosperity on the peninsula, and strengthen the China-ASEAN community with a shared future.

China-Pakistan Economic Corridor

The China-Pakistan Economic Corridor (CPEC) was proposed by Premier Li Keqiang during a visit to Pakistan in May 2013.

The 3,000-kilometer-long corridor starts from China's Kashi and ends at Pakistan's Gwadar, and connects the Silk Road Economic Belt in the north and the 21st Century Maritime Silk Road in the south. It is a trade network of highways, railways, pipelines and optical cables and is a flagship project under the Belt and Road Initiative.

China and Pakistan developed a long-term plan for the construction of transport and power facilities along the corridor in April 2015. These facilities are expected to spur the launch of other major projects in infrastructure, energy, water conservancy, and information and communications, including industrial parks and free trade zones. With an investment totaling US$45 billion, construction of the CPEC is scheduled to be completed by 2030.

President Xi Jinping and Prime Minister Nawaz Sharif were present at the ground-breaking ceremony for five major projects on April 20, 2015, when over 30 agreements and memoranda in relation to CPEC cooperation were signed.

The CPEC is designed to enhance bilateral exchanges and cooperation in transport, energy and maritime shipping, foster connectivity between the two countries, and promote common development.

It will also help enhance connectivity across the whole of South Asia, and expand cooperation in economic and energy sectors between the countries in South and Central Asia, North Africa and along the Persian Gulf, thus forming an economic radius benefiting nearly three billion people.

Bangladesh-China-India-Myanmar Economic Corridor

The proposal for a Bangladesh-China-India-Myanmar Economic Corridor (BCIMEC) was unveiled by China and India during Premier Li Keqiang's visit to India in May 2013, with the objective of linking the two huge markets of China and India and enhancing regional connectivity. Bangladesh and Myanmar welcomed the proposal.

In December 2013, the first meeting of the BCIMEC joint working group was held in Kunming, and a joint study plan was signed by all parties, leading to the establishment of a mechanism for cooperation among the four governments.

When meeting with Prime Minister Narendra Modi in India in September 2014, President Xi Jinping suggested that China and India spearhead a joint effort to accelerate the construction of the BCIMEC under the framework of the Belt and Road Initiative.

At its second meeting in Cox's Bazaar, Bangladesh in December 2014, the BCIMEC joint working group discussed the vision, priorities, and direction of future development of the BCIMEC.

In addition to bringing benefits to the four countries directly involved, the corridor is also expected to spur growth in South, Southeast and East Asia as well.

(The opinions expressed here do not necessarily reflect the opinions of Panview or CCTV.com)

Panview offers a new window of understanding the world as well as China through the views, opinions, and analysis of experts. We also welcome outside submissions, so feel free to send in your own editorials to "globalopinion@vip.cntv.cn" for consideration.

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