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Friday, April 26, 2019, 14:37
BRI brings new concept, mutual benefit
By Cao Desheng
Friday, April 26, 2019, 14:37 By Cao Desheng

The values of multilateralism and mutual benefit that the Belt and Road Initiative stands for should be upheld against the backdrop that unilateralism and protectionism are on the rise, experts said.

China and France are discussing a list involving 13 projects on their cooperation with third countries under the BRI framework for win-win results

They said the open, inclusive and win-win nature of the BRI represents a new type of concept for global governance.

China does not mean to promote a new development mode for other countries through the BRI, but hopes to share its development experiences with the rest of the world to cope with common challenges the world is facing, said He Yafei, former vice-minister of foreign affairs at a seminar organized by the Chongyang Institute of Financial Studies of Renmin University of China last week.

The focus of the BRI is not on infrastructure connectivity only, He said. "It involves, first and foremost, the synergy of the countries' development strategies with the initiative, and ultimately, it aims to build a community with a shared future for mankind," he said.

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As today's world is undergoing complex and profound changes unseen in a century with populism and anti-globalization are on the rise in some Western countries, the BRI is a China solution to global challenges and a great contribution to improving global governance, He said.

The BRI is an important platform for China to develop international cooperation in the principles of extensive consultation and joint contributions for shared benefits. It has won broad international participation since it was proposed by President Xi Jinping in 2013.

With more than five years of development, it has been transformed from an ambitious plan into concrete results. The trade volume between China and countries and regions participating in the BRI has exceeded $6 trillion, according to the National Development and Reform Commission, the country's top macro-economic regulator.

Twenty-nine international organizations and 126 countries, including developed and developing nations, have signed 174 cooperation documents with China on the BRI, official statistics show.

Addressing a symposium marking the fifth anniversary of the BRI in August, Xi said the BRI is an initiative for economic cooperation, rather than a geopolitical alliance or military league. It is an open and inclusive process rather than an exclusive bloc or "China club", and it does not differentiate countries by ideology or play a zero-sum game, he added.

He told officials that, in the years ahead, Belt and Road construction should pursue higher-quality development.

This requires more efforts to properly address key issues, such as major projects, financial support, investment environment, security and risk management with a focus on infrastructure construction and production capacity cooperation, Xi said.

Zhai Dongsheng, director of the Belt and Road Promotion Center at the National Development and Reform Commission, said the past five years had witnessed significant achievements in BRI construction, and a solid foundation has been built up for its high-quality development at a level in line with higher standards.

In the years to come, priority should be given to major projects in infrastructure connectivity, industrial investment and industrial park construction, Zhai said.

Saying both the Chinese and international enterprises are the major role players in advancing the BRI, he noted their practice must adhere to the market principles and international rules to ensure successful cooperation.

Jin Xin, president of the China Center for Contemporary World Studies, said the outcomes of China's technological innovation should be applied to the Belt and Road construction to help those less developed countries achieve a leap forward in their growth.

While continuing to build high-quality roads, bridges and ports, Chinese companies can, in line with the development needs of their partners, apply advanced technologies in telecommunications, e-commerce and big data to the BRI projects, Jin said. Efforts should be made for green and sustainable development in advancing BRI cooperation, he added.

Jin called for broader participation of entities in the BRI cooperation, particularly the involvement of more private capital, and through advancing even stronger partnership, more Chinese and international companies will benefit from the initiative.

The third-party market cooperation is another approach that China adopts to boost the Belt and Road construction.

As a new model combining China's production capacity with advanced technologies from developed countries to meet the demand in developing countries, it has gained momentum for good development after China and France issued a joint statement on exploring third-market cooperation in June 2015.

China and France are discussing a list involving 13 projects on their cooperation with third countries under the BRI framework for win-win results, French Ambassador to China Jean-Maurice Ripert told a press conference in Beijing.

The projects to be finalized should gain support from third countries involved and address their needs, and they also must adhere to standards in terms of financial sustainability, environmental protection and corporate social responsibilities, Ripert said.

Besides France, China has also signed documents on third-party market cooperation with such countries as Japan, Spain, the Netherlands, Belgium and Australia, along with some other international organizations.

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Third-party market cooperation under the BRI will optimize the efficiency of global resource allocation, according to the report "Borderless win-win cooperation in building the Belt and Road" released by Ernst & Young, a global leader in financial audit, tax, transaction and advisory services.

caodesheng@chinadaily.com.cn

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