Belt and Road Forum wraps in Beijing with major deals signed

Belt & Road Forum

Belt & Road Forum wraps in Beijing with massive deals

The Belt-and-Road Forum concluded in Beijing, with delegates from around the world pledging to revive the Silk Road.

Chinese President Xi Jinping put the focus on inclusiveness and free trade. Xi also announced Beijing’s second Belt and Road forum to be held in 2019.

CGTN’s Han Peng has more on the event and its accomplishments.

 

Belt & Road Forum wraps in Beijing with massive deals

Belt & Road Forum wraps in Beijing with massive deals

The Belt-and-Road Forum concluded in Beijing, with delegates from around the world pledging to revive the Silk Road. CGTN’s Han Peng has more on the event and its accomplishments.


The forum started with President Xi Jinping announcing massive investment plans.

“During the forum, a number of policy agreements and action plans will be signed,” Xi said. “We will also launch a Belt and Road Cooperation Initiative on trade connectivity together with some 60 countries and international organizations”.

And the forum wrapped up with major deals signed among the 1500 delegates from over 130 countries, all looking to boost trade and connectivity.

The Belt and Road is probably the grandest investment drive initiated by a single country. This forum tests the waters for how strong global interest is in the ambitious initiative.

Moscow used to be concerned the Belt and Road would conflict with Russia’s “Eurasian Economic Alliance.”

Now, Russian President Vladimir Putin said he wants the two linked.

“Partnership will help us seize the unique opportunity of building a single space of cooperation from the Atlantic to the Pacific for the first time in history,” Putin said.

Although participation in the forum does not mean agreement on all issues, world leaders seem willing to work with China amid increasing protectionism.

“China has a vision that globalization is a good thing that needs to be promoted, Even if there are aspects that can be corrected or improved,” U.N. Secretary General Antonio Guterres said. “For example, some people are being left behind. But China’s approach is that we push for a better globalization.”



President Xi pledges major global opportunities during Belt and Road Round table

Important bilateral meetings also occurred on the sidelines, including a leaders’ round table – hosted by President Xi.

CGTN’s Tang Bo has more on what came out of these gatherings.

President Xi pledges major global opportunities during Belt and Road Round table

President Xi pledges major global opportunities during Belt and Road Round table

Important bilateral meetings also occurred on the sidelines, including a leaders' round table - hosted by President Xi. CGTN's Tang Bo has more on what came out of these gatherings.

Chinese President Xi Jinping warmly welcomed the 29 heads of state and government attending the Belt and Road Forum to Yangqi Lake.The shores of this lake had served as the main venue for the APEC Economic Leaders’ Meeting in 2014.

Among the high-powered men and women at the round table summit are U.N. Secretary General Antonio Guterres, World Bank Group President Jim Yong Kim, and IMF Managing Director Christine Lagarde.

President Xi served as chair of the round-table, which includes two sessions and a working lunch.

“It’s encouraging to notice that more than 100 countries and international organizations have joined the Belt and Road Initiative,” President Xi said. “People begin to benefit from the initiative, and feel even closer to each other. All this provides a good basis for the Belt and Road Forum for International Cooperation.”

Proposed by President Xi Jinping in 2013, the Belt and Road Initiative aims to revive ancient land and sea trade routes.

The Silk Road Economic Belt and the 21st Century Maritime Silk Road link China with many countries in Asia, Africa and Europe via trade and infrastructure networks.

President Xi said China will work with all participants to explore ways to address regional and global economic problems, and in the process generate fresh energy for interconnected development to the benefit of all countries involved.

More countries are seeing the value of the Belt and Road Initiative. Policymakers are buying into the principles of openness, inclusiveness, and mutual benefit that the initiative espouses.

Amid sluggish global growth, there is an urgent need to upgrade infrastructure and connectivity across continents to maximize the productivity of economies big and small. These are goals all countries involved share, and the Belt and Road Initiative maps out the way forward.


Chenchen Chen talks about Belt and Road Initiative

To discuss financing for the Belt and Road Initiative, CGTN’s Elaine Reyes spoke to Chenchen Chen, a research fellow at the Chongyang Institute for Financial studies at Renmin University.