B&R pushes Chinese, global firms to team up
The Belt and Road Initiative has already produced several tangible results, which will continue to boost revenue growth of both Chinese and foreign companies, while improving their ability to execute big-ticket projects, an executive of CITS American Express Global Business Travel said.
“This grand initiative will not only rejuvenate ancient trade routes, but also further open up markets and accelerate economic integration on a transparent, equal and innovative ground,” Kevin Tan, vicepresident and general manager of the travel firm’s China operations, said.
The Belt and Road initiative, proposed by China’s leader, envisages infrastructure networks and economic ties connecting China to the rest of Asia and to Europe, Africa and the wider world, Tan said.
“It will no doubt drive economic growth and efficiency, social welfare and customer satisfaction in all the countries and regions participating in the initiative,” Tan said.
Forty percent of companies and organizations in the initiative’s footprint have reported plans to expand business travel budgets because of the opportunities presented by the humongous project, Tan said, quoting data from the CITS American Express Global Business Travel 2017 China Business Travel Barometer.
“China is on the way to become an important economic entity in the world and will shape the future of the global economy to a degree that we can currently not yet predict,” Tan said.
Like Tan, many executives from multinational companies have a firm belief that the initiative will provide fresh momentum to global economic growth.
A consensus has developed among them that the Belt and Road Initiative is “not just China’s initiative, but also a global opportunity”, he said.
Karel van de Pijpekamp, CEO of International SOS China, a firm specializing in medical and travel security assistance, said the undertaking has great potential for Chinese companies and foreign companies to work together. He called on MNCs to imbibe the “philosophy” of the initiative.
As China’s role on the world stage becomes more significant, the country is making a constructive contribution to global economy, said van de Pijpekamp.
Cooperation based on the Belt and Road Initiative needs to be gradually deepened, from a single aspect to multifaceted ones, Rachel Duan, president and CEO of GE China, said.
A breakthrough in models of global cooperation would be
An employee works on a ceramic tile production line at an industrial park, the first China-invested joint venture industrial park, in Uzbekistan.