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BRI 2.0:A sustainable vision for the future

2019-05-07 13:30:23 chinadaily.com.cn

We have just completed a successful Belt and Road Forum that has seen the BRI, which the Belt and Road Forum is centred around, reaching a higher level of development.

We have just completed a successful Belt and Road Forum that has seen the Belt and Road Initiative (BRI), which the Belt and Road Forum is centred around, reaching a higher level of development. On the final day, leaders of 37 countries joined Chinese President Xi Jinping in signing a joint communique promising to work together as the BRI enters its next phase. This is a considerable step up from the inaugural forum in 2017, where 29 nations made such a pledge.

Key takeaways of the joint communique included calling for high-quality projects, urging investment in connectivity for developed nations, and ensuring that cooperation will be open, clean and green. This signals great intention for a mature and sustainable approach to infrastructure development and a demonstration of how we have progressed to 'BRI 2.0'.

Christine Lagarde said in her speech at the Belt and Road Forum, where she described the Belt and Road Initiative as a new phase of 'BRI 2.0', that: "The BRI is clearly having an impact. From stimulating infrastructure investment to developing new global supply chains, some of the promises of BRI are being realised."

A Broad Market

The Belt and Road Initiative has a grand vision and will be widely beneficial for the entire world.

By connecting more than 65 countries across Europe, Asia and Africa – the BRI will cover 63 per cent of the world's population and 29 per cent of global GDP, and ultimately make it easier for goods and services to reach the growing middle classes whose disposable income is increasing.

The initiative is doing a great deal for global trade at a time of suppressed growth. Over the past six years, the total trade volume between China and the other participating countries has surpassed $6 trillion and 82 industrial parks have been established, creating nearly 300,000 local jobs.

A great deal of success has been achieved, as 126 countries and 29 international organizations have signed more than 170 cooperation agreements of various kinds under the framework of the initiative. Over the past six years, the total trade volume between China and the other participating countries has surpassed $6 trillion and 82 industrial parks have been established, creating nearly 300,000 local jobs.

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