An undated file photo shows a board reading "Belt and Road". (PHOTO / XINHUA)
BEIJING – The Belt and Road Initiative (BRI) not only provides a conceptual framework but also a practical roadmap for all nations to achieve shared development and prosperity, according to a white paper released by China's State Council Information Office on Tuesday.
The white paper, titled "The Belt and Road Initiative: A Key Pillar of the Global Community of Shared Future," expounded on the principles, concepts, objectives and visions of the initiative.
The white paper will give the international community a better understanding of the value of the Belt and Road Initiative (BRI), facilitate high-quality cooperation under it, and ultimately deliver benefits to more countries and peoples.
Since its launch, the Belt and Road Initiative has evolved from ideas into actions, from a vision into reality, and from a general framework into concrete projects. It has been welcomed by the international community both as a public good and a cooperation platform.
Over the past decade, BRI cooperation has delivered real gains to participating countries. It has contributed to the sound development of economic globalization and helped to resolve global development challenges and improve global governance system.
READ MORE: Full text: The Belt and Road Initiative: A Key Pillar of the Global Community of Shared Future
It has also opened up a new path for all humanity to realize modernization, and ensured that the efforts of building a global community of shared future are delivering real results, the white paper said.
Looking forward, China stands ready to work with other countries to pursue closer and more fruitful cooperation under the BRI framework, implement the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative, and build an open, inclusive, clean and beautiful world that enjoys lasting peace, universal security and common prosperity.
Shared prosperity
Founded on the principles of extensive consultation, joint contribution, and shared benefits, the BRI emphasizes that all countries are equal participants, contributors and beneficiaries, and encourages economic integration, interconnected development, and the sharing of achievements.
It is committed to open, green and clean cooperation towards inclusive and sustainable development. It has zero tolerance for corruption and promotes steady and high-quality growth, according to the white paper.
The document said the BRI is a public road open to all, not a private path owned by any single party. The initiative embraces the global trend of green and low-carbon development, and clean governance is considered an intrinsic and necessary condition for its steady and sustained development.
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The initiative pursues high standards, sustainability, and better lives by raising cooperation standard, investment effectiveness, supply quality, and development resilience, delivering real and substantive results for all participants.
BRI belongs to whole world
China proposed the BRI in response to a changing global situation and the expectations of the international community, and with the future and overall interests of humanity in mind. Drawing wisdom and strength from the ancient silk routes and the Silk Road spirit, the BRI targets development not only for China but for the world, and eyes to create a better world, according to the white paper.
The BRI has connected the vibrant East Asia economic circle at one end, the developed European economic circle at the other, and the countries in between with huge potential for economic development, and fostered closer economic cooperation with African and Latin American countries
White paper
With the Communist Party of China being a major political party with a global vision, and China a major country pursuing peaceful development, the BRI carries forward the Silk Road spirit in the new era, evokes the pleasant memories of the past and has fired many countries' enthusiasm for connectivity.
As for development issues, the white paper said that while economic globalization has given strong momentum to the world economy and remains an irreversible trend, it must undergo adjustments in both form and substance and be made more open, inclusive, balanced and beneficial to all.
The initiative is a Chinese solution to global development issues, which aims to advance modernization in participating countries in tandem, make economic globalization more dynamic, inclusive and sustainable, and ensure that more of the fruits will be shared more equitably by people across the world.
Vitality to economic globalization
Against a rising tide of de-globalization, the BRI is committed to global connectivity and interconnected development. “By expanding economic globalization and distributing its benefits fairly, the BRI aims to promote global development that is balanced, coordinated, inclusive and shared by all, and that brings win-win cooperation and common prosperity," reads the white paper.
The BRI has connected the vibrant East Asia economic circle at one end, the developed European economic circle at the other, and the countries in between with huge potential for economic development, and fostered closer economic cooperation with African and Latin American countries, according to the document.
Efforts have been made to promote global trade, according to the white paper. The BRI has eliminated internal, transnational, and inter-regional transport bottlenecks and barriers to trade and investment cooperation, made cross-border logistics and foreign trade easier and more convenient, and increased the efficiency of domestic and international cooperation.
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The BRI has made participating countries more attractive to quality global capital, the white paper said. Direct cross-border investment in Southeast Asia, Central Asia and other regions has risen steadily. In 2022, cross-border direct investment inflows in Southeast Asia accounted for 17.2 percent of the global total, 9 percentage points higher than in 2013.
Facilitating trade, investment
Facilitating trade and investment is a major task in building the Belt and Road, it said. The participating countries have worked hard to promote trade and investment liberalization and facilitation, remove investment and trade barriers, and improve the business environment within the region and in all related countries.
Trade and investment are expanding steadily, according to the white paper. From 2013 to 2022, the cumulative value of imports and exports between China and other BRI countries reached $19.1 trillion, with an average annual growth rate of 6.4 percent. The cumulative two-way investment between China and other BRI countries reached $380 billion, including $240 billion from China.
We have continued to facilitate policy coordination, infrastructure connectivity, unimpeded trade, financial integration, and closer people-to-people ties, by orienting towards 'hard connectivity' in infrastructure, bolstering 'soft connectivity' through harmonized rules and standards, and strengthening people-to-people bonds.
By the end of August 2023, more than 80 countries and international organizations had subscribed to the Initiative on Promoting Unimpeded Trade Cooperation Along the Belt and Road, proposed by China. China had signed 21 free trade agreements with 28 countries and regions.
Financial integration is an important pillar of BRI cooperation, said the white paper. Participating countries and relevant institutions have carried out multiple forms of financial cooperation, created new models, expanded the channels, diversified the parties involved, and improved the mechanisms for investment and financing.
The financial cooperation mechanisms are maturing, said the white paper. China Development Bank (CDB) has promoted the establishment of multilateral financial cooperation mechanisms such as China-Central and Eastern Europe Interbank Consortium, the China-Arab Countries Interbank Association, China-ASEAN Interbank Association, the ASEAN Plus Three Interbank Cooperation mechanism, China-Africa Interbank Association, and the Association of China-LAC Development Financial Institutions.
The channels and platforms for investment and financing are constantly expanding, it said. China has funded the establishment of the Silk Road Fund (SRF) and established the Asian Infrastructure Investment Bank (AIIB) with other participating countries.
People-to-people ties
Participating countries will continue to promote people-to-people ties through the BRI cooperation, according to the white paper.
Cooperation on culture and tourism is rich and colorful, according to the white paper. By the end of June 2023, China had signed cultural and tourism cooperation documents with 144 countries.
Educational exchanges and cooperation are extensive and profound, said the white paper. China has released the Education Action Plan for the Belt and Road Initiative to promote international education exchanges and cooperation.
Media and think tank cooperation has yielded fruitful results, it said. BRI countries have successfully held the Media Cooperation Forum on Belt and Road six times, and established the Belt and Road Media Community.
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Cities from 60-plus other BRI countries have formed more than 1,000 pairs of friendly cities with their Chinese counterparts. A total of 352 NGOs from 72 countries and regions have formed a Silk Road NGO Cooperation Network, carrying out over 500 projects and various other activities, and becoming an important platform for exchanges and cooperation between NGOs in BRI countries.
Policy coordination, infrastructure connectivity
The BRI has become the world's largest platform for international cooperation, with the broadest coverage, it said.
"We have continued to facilitate policy coordination, infrastructure connectivity, unimpeded trade, financial integration, and closer people-to-people ties, by orienting towards 'hard connectivity' in infrastructure, bolstering 'soft connectivity' through harmonized rules and standards, and strengthening people-to-people bonds.”
Policy coordination underpins BRI cooperation, according to the white paper. China has worked with participating countries and international organizations to establish a multilevel policy coordination and communication mechanism for aligning development strategies, technological and economic policies, and administration rules and standards.
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A long-term mechanism for policy coordination is largely in place. Multilevel channels for regular communication among different parties have been opened up on different platforms.
Tangible benefits
With a focus on the fundamental issue of development, addressing the weaker links and bottlenecks that hinder development, building new engines for economic development, and creating a new development environment and space for participating countries, the BRI has been boosting development in participating countries, said the white paper.
A large number of infrastructure projects have been built, with significant progress for participating countries in the construction of railways, highways, pipelines, shipping, energy, communications and other basic public service facilities, according to the white paper.
"Some engineering projects with a long construction cycle are like seeds sown in a field, gradually generating comprehensive benefits for the long term.”
More than 2,000 agricultural experts and technicians have been sent to over 70 countries and regions, and more than 1,500 agricultural technologies such as Juncao and hybrid rice have been introduced to many of these countries, the white paper said, adding that China's trade in agricultural products with BRI partners has reached $139.4 billion.
