China shows its de­ter­mi­na­tion

Pres­i­dent Xi an­nounces more in­vest­ments, en­cour­ages Chi­nese banks to fund over­seas projects

New Straits Times - - News -


As the world’s largest de­vel­op­ing coun­try that has lifted more than 700 mil­lion peo­ple out of poverty over the past three decades, China is will­ing to share its ex­pe­ri­ence and re­sources with less-de­vel­oped coun­tries.

Its eco­nomic as­cent proves that in­fra­struc­ture de­vel­op­ment is an ef­fec­tive way to boost growth, and China is the only coun­try with the will, ca­pa­bil­ity and ex­pe­ri­ence to help, said Zhai Kun of Pek­ing Univer­sity.

China aims to work with other coun­tries to build the Belt and Road into an open plat­form of co­op­er­a­tion and a so­lu­tion for chal­lenges, in­clud­ing the lack of new growth driv­ers, de­vel­op­ment im­bal­ance and ter­ror­ism.

“What we hope to cre­ate is a big fam­ily of har­mo­nious co-ex­is­tence,” Xi said, adding that pur­suit of the Belt and Road Ini­tia­tive will not re­sort to out­dated geopo­lit­i­cal ma­neu­ver­ing.

To ease con­cerns, Xi said China has no in­ten­tion of in­ter­fer­ing in other coun­tries’ in­ter­nal af­fairs by ex­port­ing its so­cial sys­tem and model of de­vel­op­ment, or im­pos­ing its will on oth­ers.

Xi said the Belt and Road will be open to all coun­tries from Asia, Europe, Africa and the Amer­i­cas. All can be part­ners of the ini­tia­tive.

So far, the Belt and Road has won sup­port from more than 100 coun­tries and in­ter­na­tional or­gan­i­sa­tions, of which more than 40 have signed co­op­er­a­tion agree­ments with China.


More than three years since be­ing pro­posed, the ini­tia­tive has gone be­yond vi­sion and be­come a re­al­ity, de­liv­er­ing tan­gi­ble ben­e­fits to coun­tries along the routes.

From Mon­go­lia to Malaysia, Thai­land to Pak­istan, and Laos to Uzbek­istan, many projects, in­clud­ing high-speed rail­ways, bridges, ports, in­dus­trial parks, oil pipe­lines and power grids, are be­ing built.

Since 2013, Chi­nese busi­nesses have in­vested more than US$60 bil­lion (RM264 bil­lion) in coun­tries par­tic­i­pat­ing in the Belt and Road.

Last year alone, the in­vest­ments to­talled US$14.5 bil­lion, ac­count­ing for 8.5 per cent of the to­tal over­seas in­vest­ments made by Chi­nese en­ter­prises. Xin­hua


The 1,000th Chi­nese freight train to Europe de­part­ing from the Yiwu West Rail­way Sta­tion in Yiwu, Zhe­jiang Prov­ince, re­cently. The num­ber of Sino-Euro­pean freight train ser­vices this year has in­creased by 612, or 158 per cent, com­pared with the same pe­riod last year.


Chi­nese Pres­i­dent Xi Jin­ping meet­ing Prime Min­is­ter Datuk Seri Na­jib Razak at the Belt and Road Fo­rum for In­ter­na­tional Co­op­er­a­tion in Beijing re­cently.


The ‘Silk Road and Golden Bridge’ struc­ture in Beijing is lighted up at night in con­junc­tion with the Belt and Road Fo­rum for In­ter­na­tional Co­op­er­a­tion re­cently.

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