The Belt and Road Initiative, first proposed by Chinese President Xi Jinping in 2013, is a trade and infrastructure network that includes the Silk Road Economic Belt and the 21st Century Maritime Silk Road. Its basic principle is equality and mutual benefit.
Connecting the Asia-Pacific economic circle in the east and the European economic circle in the west, it’s currently the longest economic corridor with the greatest potential in the world. It directly impacts 4.4 billion people, around 63 percent of the world’s population, and deals with an economic aggregate of $21 trillion, 29 percent of the global volume.
The essence of the initiative, however, is an inclusive project open to all countries and international and regional organizations.
The initiative features five major areas for cooperation: policy communication, road connectivity, unimpeded trade, money circulation, and cultural understanding.