Page 58 - 2019 White Paper on the Business Environment in China
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9 White Paper on the Business Environment in China
1.3 China Trade Initiatives
Belt and Road reducing poverty, the hotbed of terrorism, and bringing
better prospects for local people’s lives. The report said
According to Zhang Xiaoqiang, the Initiative, “an epitome” of the Asian culture featuring
former vice-chairman win-win cooperation, is also a fruit of the mankind in their
of the National Development and Reform Commission exploring new type of international relations and accords
(NDRC), China’s outbound investment in economies with the norms advocated by the United Nations Charter
participating in the Belt and Road Initiative (BRI) for modern international relations (Xinhua, Belt and Road
climbed to around US$70 billion between 2014 and Initiative Reshaping).
2017. The BRI, referring to the Silk Road Economic Belt
and 21st Century Maritime Silk Road, was put forward China has seen expanding trade and investment ties
by President Xi Jinping in 2013 to promote economic with countries along the Belt and Road for the past five
cooperation among countries along the Belt and Road years. China’s total trade with countries along the Belt and
routes, and to further open markets in a mutually Road in the past five years exceeded US$5 trillion, with an
beneficial manner (Liu) through trade and infrastructure annual average growth of 1.1 percent, in contrast to falling
networks connecting Asia with Europe and Africa along world trade, according to Qian Keming, vice-minister of
the ancient Silk Road trade routes to seek common commerce. During the period, China’s combined direct
development and prosperity. investment in countries along the Belt and Road has grown
by 7.2 percent annually on average, Qian noted. He said
Recent Progress 82 overseas economic and trade cooperation zones have
been established in countries along the Belt and Road, with
According to China’s Ministry of Commerce, Chinese an accumulated investment of US$28.9 billion. The zones
enterprises have made US$14.36 billion of non-financial attracted nearly 4,000 enterprises, creating US$2 billion
direct investment in 59 countries along the Belt and Road in tax revenue for these countries and providing 244,000
in 2017. The Asian Competitiveness Annual Report 2018 local jobs. China has also signed or upgraded five free trade
claimed the BRI has provided“a new channel”for the world agreements with 13 of these countries, according to Qian.
to confront the challenges of anti-globalization, as it can Ning Jizhe, deputy head of the office of the leading group
be used to tackle the problems arising from globalization on advancing Belt and Road development, said China has
and facilitate the sharing of development experiences. signed 118 cooperation agreements with 103 countries,
“The Belt and Road Initiative is closely related to economic regions, and international organizations on developing
globalization and will enhance the competitiveness of Asia. the Belt and Road (Xinhua, China Sees).
That’s why the initiative should be given priority and actively
promoted among the Asian economies,” said the report. China has become the largest trading partner of
The report also illustrates the initiative’s compatibility with the 25 countries. Besides financial investment, major
the region’s other development plans, such as the Master projects are also underway, with many of them bearing
Plan on ASEAN Connectivity adopted at the 17th ASEAN successful fruits. The Madaraka Express, connecting the
Summit in 2010. It said the Initiative has provided basic Kenyan port of Mombasa with Nairobi, started operation
support for China and ASEAN countries to consolidate on May 30, 2017. The Addis Ababa-Djibouti Railway,
their relationship. In Central and West Asia, the Initiative connecting Ethiopia with Djibouti, began operation on
also helps regional countries to improve production and October 5, 2016. The China-Thailand railway, connecting
living facilities as well as facilitate economic and cultural Kunming and Bangkok, has also started construction and
exchanges. China-Pakistan Economic Corridor, a flagship is expected to be completed by 2021(Chen). The China-
project under the BRI, has not only improved local Europe freight rail service network, a crucial part of the BRI,
infrastructure but also is extending toward Afghanistan, has expanded rapidly. An August 2018 arrival of freight
58
1.3 China Trade Initiatives
Belt and Road reducing poverty, the hotbed of terrorism, and bringing
better prospects for local people’s lives. The report said
According to Zhang Xiaoqiang, the Initiative, “an epitome” of the Asian culture featuring
former vice-chairman win-win cooperation, is also a fruit of the mankind in their
of the National Development and Reform Commission exploring new type of international relations and accords
(NDRC), China’s outbound investment in economies with the norms advocated by the United Nations Charter
participating in the Belt and Road Initiative (BRI) for modern international relations (Xinhua, Belt and Road
climbed to around US$70 billion between 2014 and Initiative Reshaping).
2017. The BRI, referring to the Silk Road Economic Belt
and 21st Century Maritime Silk Road, was put forward China has seen expanding trade and investment ties
by President Xi Jinping in 2013 to promote economic with countries along the Belt and Road for the past five
cooperation among countries along the Belt and Road years. China’s total trade with countries along the Belt and
routes, and to further open markets in a mutually Road in the past five years exceeded US$5 trillion, with an
beneficial manner (Liu) through trade and infrastructure annual average growth of 1.1 percent, in contrast to falling
networks connecting Asia with Europe and Africa along world trade, according to Qian Keming, vice-minister of
the ancient Silk Road trade routes to seek common commerce. During the period, China’s combined direct
development and prosperity. investment in countries along the Belt and Road has grown
by 7.2 percent annually on average, Qian noted. He said
Recent Progress 82 overseas economic and trade cooperation zones have
been established in countries along the Belt and Road, with
According to China’s Ministry of Commerce, Chinese an accumulated investment of US$28.9 billion. The zones
enterprises have made US$14.36 billion of non-financial attracted nearly 4,000 enterprises, creating US$2 billion
direct investment in 59 countries along the Belt and Road in tax revenue for these countries and providing 244,000
in 2017. The Asian Competitiveness Annual Report 2018 local jobs. China has also signed or upgraded five free trade
claimed the BRI has provided“a new channel”for the world agreements with 13 of these countries, according to Qian.
to confront the challenges of anti-globalization, as it can Ning Jizhe, deputy head of the office of the leading group
be used to tackle the problems arising from globalization on advancing Belt and Road development, said China has
and facilitate the sharing of development experiences. signed 118 cooperation agreements with 103 countries,
“The Belt and Road Initiative is closely related to economic regions, and international organizations on developing
globalization and will enhance the competitiveness of Asia. the Belt and Road (Xinhua, China Sees).
That’s why the initiative should be given priority and actively
promoted among the Asian economies,” said the report. China has become the largest trading partner of
The report also illustrates the initiative’s compatibility with the 25 countries. Besides financial investment, major
the region’s other development plans, such as the Master projects are also underway, with many of them bearing
Plan on ASEAN Connectivity adopted at the 17th ASEAN successful fruits. The Madaraka Express, connecting the
Summit in 2010. It said the Initiative has provided basic Kenyan port of Mombasa with Nairobi, started operation
support for China and ASEAN countries to consolidate on May 30, 2017. The Addis Ababa-Djibouti Railway,
their relationship. In Central and West Asia, the Initiative connecting Ethiopia with Djibouti, began operation on
also helps regional countries to improve production and October 5, 2016. The China-Thailand railway, connecting
living facilities as well as facilitate economic and cultural Kunming and Bangkok, has also started construction and
exchanges. China-Pakistan Economic Corridor, a flagship is expected to be completed by 2021(Chen). The China-
project under the BRI, has not only improved local Europe freight rail service network, a crucial part of the BRI,
infrastructure but also is extending toward Afghanistan, has expanded rapidly. An August 2018 arrival of freight
58
