one belt and one road - China Does Real Job to Promote Belt and Road Cooperation

Since the China-proposed Belt and Road Initiative came out in 2015, continuous efforts have been made by China and partner countries participating in the great global economic development strategy to put it into practice, with sound and robust trade and investment growth seen every year under the initiative.

In the first three quarters of 2018, China’s two-way trade volume with the Belt and Road countries totaled over 6 trillion yuan (US$860 billion), up 13.2 percent from the same period a year ago, according to data released by the Ministry of Commerce.

In breakdown, China’s export to the Belt and Road countries rose 7.7 percent year-on-year to 3.38 trillion yuan, while imports jumped 20.9 percent from a year earlier to 2.7 trillion yuan, which means China is not only selling miscellaneous products to, but also is buying increasingly more from its partners under the initiative to bring them real benefits through common growth.

In fact, China’s investment in the Belt and Road countries has continued solid growth since the initiative was implemented, with a total $10.78 billion of non-financial direct investment made by Chinese firms over the January-September period, an appreciable rise of 12.3 percent from last year, said a senior official with the commerce ministry.

Some well-known infrastructure projects led by China like the China-Laos railway and the Hungarian-Serbia railway has been in a stage of being smoothly constructed as scheduled.

Until now, Chinese enterprises have actively set up 82 overseas economic and trade cooperation zones in the countries embracing the initiative, and created 244,000 jobs for local people, bringing a total of $2.01 billion in taxes and fees.

On the other hand, the first China International Import Expo (CIIE) held recently in Shanghai signified China’s sincere efforts to share it good result of economic development with the rest of the world, especially its Belt and Road partners.

More than 1,000 enterprises from 58 countries along the Belt and Road, nearly one third of all those joining the the just expo, attended the grand trade event to seek opportunities for expanding their exports to China and also other countries.

“The CIIE is going to give an impulse to the development of collaboration between Russia and China. It is a serious opportunity for Russian companies to make themselves known, to show their goods to potential importers and consumers and to appreciate the competitive environment and get acquainted with manufacturers from other countries,” said Andrey Slepnev, director of the Russian Export Center.

The CIIE also acted as a big stage for companies to promote their brands and expand markets, adding new impetus to economic cooperation between China and countries along the Belt and Road.

Many Chinese companies took part in the wonderful activity to introduce themselves to the world on one hand, and help foreign businesses tap into Chinese market on the other hand.

JUMORE, as a global supply chain digital platform, held a business conference themed “YOUR DIGITAL GATEWAY TO CHINA” during its participation in the expo, attracting attendees from nearly 20 countries such as Brazil Indonesia, Philippines and Chile.

When addressing the meeting, JUMORE chairman Eric Lu said China is expected to import around $30 trillion in goods and $10 trillion in services in the next 15 years, in which e-commerce and digital technology would play increasingly important roles in trade facilitation. Lu stressed that, JUMORE, with its rich experience in both international trade and e-commerce, could help foreign enterprises introduce their high quality products to China and build them as leading enterprises involved in the Belt and Road Initiative, thus offering them more opportunities for global cooperation.

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