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B&R Key Words (16): Projects Underway (Part II)

Editor: Qian Ding 丨CCTV.com

05-08-2017 17:49 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. 
Colombo Port City

Colombo Port City, located in Colombo's central business district, is currently Sri Lanka's largest foreign investment project. It will be built on land reclaimed from the sea adjacent to the existing Port of Colombo. It will feature a golf course, hotels, shopping malls, waterparks, condominiums and a marina. 
The project will be implemented by the China Communications Construction Company Limited (CCCC) and the Sri Lanka Ports Authority (SLPA). Rather than being an inter-governmental project, it relies on public-private partnerships (PPP) for funding.

The Sri Lankan government is responsible for environmental impact assessment, overall planning, and contractor licensing. Chinese companies will focus on funding, project planning, construction, and operations management.

The Port City will involve a combined floor area of over 5.3 million square meters, with an initial direct investment of US$1.4 billion. It is expected to attract further development investment of US$13 billion, and create 83,000 long-term jobs.

After groundbreaking on September 17, 2014, the project was delayed as a result of Sri Lanka's general election and subsequent transfer of power to a new administration.

After repeated efforts by China, a new tripartite agreement to proceed with the construction of the project was signed in August 2016 between Sri Lanka’s Urban Development Authority, the Ministry of Megapolis and Western Development, and the China Harbor Engineering Company.  

China Railway Express to Europe

The launch of a rail freight service from the Chinese city Chongqing via the Alashankou border crossing in Xinjiang through Central Asia to Europe in March 2011 ushered in a new era for freight on rail as an alternative to shipping by sea or air. China-Europe rail cargo transport has subsequently gained rapid traction, fueled by the rollout of the Belt and Road Initiative.

The importance of China’s rail link to Europe was highlighted in a white paper issued by the Chinese government in March 2015 entitled Joining Hands to Build a Silk Road Economic Belt and a 21st-Century Maritime Silk Road – Vision and Actions. The name "China Railway Express" was formally introduced on June 8, 2016, for all Europe-bound trains.

There are currently 40 service lines running through Xinjiang, Inner Mongolia and Northeast border crossings to destinations in Central Asia, Russia, Central and Eastern Europe and Western Europe. With the launch of the Yiwu-London line in January 2017, the trans-Eurasian network now extends to 15 cities in 10 European countries.

A total of 1,702 trains made the trans-continental voyage between China and Europe in 2016, up 109 percent from a year before.

The "CHINA RAILWAY Express" service, seen as the "Belt and Road on rail," helps boost connectivity between China and the rest of Eurasia. An interconnected network has begun to replace uncoordinated individual cargo lines.

In addition to offering freight transport solutions, it contributes to flows of global investment, resources, technology and skilled personnel, and facilitates global cross-sector collaboration.

(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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