China signs cooperation agreements with 69 entities under Belt and Road

BEIJING (Xinhua) — The number of countries, regions and international organizations that have signed cooperation agreements with China on the joint development of the Belt and Road Initiative has reached 69, the country’s top economic planner said Aug. 17.

The agreements consist of cooperation deals in various fields, including infrastructure construction, financial collaboration and cultural exchanges, said a spokesperson with the National Development and Reform Commission (NDRC).

Some key infrastructure projects, including the Jakarta-Bandung highspeed railway, have seen fast development with the active participation of Chinese companies, said the spokesperson.

More than 4,000 cargo train trips have been made between China and Europe, with the trains passing through 31 cities in 12 European countries.

In terms of finance, China has signed currency swap agreements with 22 countries and regions along the Belt and Road, with a total size reaching about one trillion yuan (about $150 billion).

In addition, China has signed educational cooperation agreements with more than 60 countries and partnered with the World Health Organization in promoting health projects based on the initiative.

The Belt and Road Initiative, proposed by China in 2013, aims to build trade and infrastructure networks connecting Asia with Europe and Africa along the ancient Silk Road trade routes to seek common development and prosperity.

The NDRC will continue to push the construction of key projects under the initiative while helping companies implement risk-control mechanisms, preventing irrational overseas investments, said the spokesperson.