People's Daily: Focus on Opening Up and Win-win, Provide Growth Momentum, Expand Development Path

China's door of opening-up will not be closed, and will only open even wider, said Chinese President Xi Jinping recently at the Boao Forum for Asia, during which a series of major measures demonstrating China's resolution to expand the scope of opening-up and promote economic globalization were announced, in the hopes of welcoming the world to share China's development opportunities and reform achievements. As seen by the world, China is pushing forward reform and opening-up resolutely, and China's economic growth will make new contributions to the common development of the world.

 

Pakistani Prime Minister Shahid Khaqan Abbasi said, "The Belt and Road Initiative originated from China, but the opportunities and achievements belong to the world. It is a proposal featured with mutual benefit, win-win and common prosperity, which will not only benefit the future generations, but will also remould the 21st century."

 

The Belt and Road Initiative was put forward by Xi in 2013, with the principle of achieving shared growth through discussion and collaboration.

 

So far, more than 100 countries and international organizations have participated in the construction of Belt and Road in different ways, and over 80 countries and international organizations have signed relevant cooperation agreements with China.

 

"Under the framework of the Belt and Road Initiative, we find the cooperation in the fields of transportation, energy, telecom, smart city and renewable energy, rural development, financial service, e-commerce, etc. very appealing. In addition, the Belt and Road Initiative provides the opportunity for China and Austria to carry out cooperation in the third-party market," said Austrian Chancellor Sebastian Kurz.

 

"The main energy source in Malta is diesel, which is low-efficient and highly polluting. We could not solve the energy problem on our own, but China could help us. Shanghai Electric Power was able to invest 320 million euro in Malta, purchased 30 percent of Malta's Energy Authority, and turned an ancient power authority into a modern and efficient one, that's now based on gas, not diesel, improving the environment and lowering the pollution," said John Aquilina, Malta's Ambassador to China.

 

It is a road facing the future. China has newly injected RMB 100 billion into the Silk Road Fund, encouraging domestic financial institutions to conduct RMB overseas fund business, with the total scale expected to be around RMB 300 billion. China Development Bank and the Export-Import Bank of China will provide special-purpose loans equivalent of RMB 250 billion and 130 billion respectively, in order to support the infrastructure construction, capacity and financial cooperation related to the Belt and Road Initiative. In 2017, Chinese enterprises conducted a total non-financial direct investment of USD 14.36 billion in 59 countries along the Belt and Road.

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