In 2013, during his visits to Kazakhstan and Indonesia, the President put forward the major initiatives of jointly building the Silk Road Economic Belt and the 21st Century Maritime Silk Road. These initiatives aim to carry forward the spirit of the Silk Road, build platforms for open cooperation, and provide new impetus for the common development and prosperity of all countries. We have taken heart-to-heart connectivity with the people of other countries as an important foundation, promoted high-quality development of the Belt and Road cooperation, and achieved solid and weighty results.

First, we need to deepen policy communication and build broad international consensus

Policy communication is the forerunner and an important guarantee for the Belt and Road cooperation. Since the initiative was proposed, our country has fully communicated and coordinated with relevant countries and international organizations, and formed a broad consensus on international cooperation in jointly building the Belt and Road.

1. Synergy of strategic cooperation continued to expand

The Belt and Road Initiative has received positive responses from more and more countries and international organizations. It has become a popular international public good and a platform for international cooperation in today's world. By the end of 2021, China had signed more than 200 Belt and Road cooperation documents with 145 countries and 32 international organizations, covering such areas as investment, trade, finance, science and technology, society, culture and people's livelihood. At the same time, China is actively fulfilling its international responsibilities and deepening its synergy with other parties' development plans and policies under the framework of Belt and Road cooperation. At the global level, the Belt and Road Initiative is effectively aligned with the United Nations 2030 Agenda for Sustainable Development, forming policy synergy for common development around the world. At the regional level, the Belt and Road Initiative has been effectively aligned with regional development plans or cooperation initiatives such as the Master Plan on ASEAN Connectivity, the African Union's Agenda 2063, and the European Union's Eurasian Connectivity Strategy, reaching consensus on promoting connectivity and supporting regional economic integration.

2. Fruitful communication at the BRF

Through the consolidation of foundations, the erection of beams and columns, various systems and mechanisms for Belt and Road cooperation are gradually taking shape. Under the principle of extensive consultation, joint contribution and shared benefits, our country strives to build an international platform and carrier for extensive consultation. The Belt and Road Forum for International Cooperation has become the highest-level international cooperation platform under the Belt and Road framework. China successfully hosted the Belt and Road Forum for International Cooperation in 2017 and 2019. During the first BRF, 29 heads of state, government and other leaders and more than 1,600 delegates from over 140 countries and 80 international organizations attended the forum, producing 279 concrete and practical outcomes in five categories. At present, all these achievements have been implemented according to schedule, and some of them have been turned into regular work and will continue to be pushed forward. The second BRF attracted more countries and international organizations and produced more fruitful outcomes. It called for building a global connectivity partnership and embarking on a new journey of high-quality Belt and Road cooperation.

Second, we will strengthen infrastructure connectivity and improve connectivity

Infrastructure is the cornerstone of connectivity and a priority area in the Belt and Road Initiative. Over the past eight years and more, thanks to the concerted efforts of all parties, a connectivity architecture with six corridors, six roads, multiple countries and multiple ports has basically taken shape, and a large number of mutually beneficial projects have been successfully launched.

3. Notable progress was made in building economic corridors

The six major economic corridors are the strategic pillars of the Belt and Road Initiative and the important framework of the regional economic cooperation network, including China-Mongolia-Russia, the New Eurasian Land Bridge, China-Central Asia-West Asia, China-Indo Peninsula, China-Pakistan and Bangladesh-China-India-Myanmar Economic Corridors. Over the past eight years and more, the development of the six economic corridors has produced many highlights and played an important role in building and strengthening the connectivity partnership among countries and unlocking the Asia-Europe big market. The New Eurasian Land Bridge, China-Mongolia-Russia and China-Central Asia-West Asia Economic Corridor pass through the central and eastern parts of the Eurasian continent. They not only connect the economically dynamic East Asian economic circle with the developed European economic circle, but also facilitate cooperation between the Persian Gulf, the Mediterranean Sea and the Baltic Sea. The China-Indochina Peninsula, China-Pakistan Economic Corridor and BCIM Economic Corridor pass through southeast Asia, the most populous region in the world, connecting major cities and population and industrial clusters along the routes. The construction of the China-Pakistan Economic Corridor (CPEC), a flagship project of the Belt and Road Initiative, started early and is making fast progress. The 22 priority projects in the first phase have been basically completed. According to incomplete statistics from Pakistan's Planning Commission, the first phase of the China-Pakistan Economic Corridor (CPEC) early harvest projects have created about 38,000 jobs, more than 75 percent of which are local jobs. Energy projects have created 16,000 Pakistani workers and engineers, and transportation infrastructure has created about 13,000 jobs. Since 2021, the China-Pakistan Economic Corridor (CPEC) has entered the second phase of construction smoothly, and the cooperation projects between the two sides have sought to be laid out in multiple fields and directions.

4. Infrastructure projects were implemented in an orderly manner

Focusing on the main framework of "six corridors, six roads, multiple countries and multiple ports", substantial progress has been made in a number of landmark projects. In the railway sector, all lines of the China-Laos Railway were put into operation, and the Jakarta-Bandung high-speed Railway and the China-Thailand Railway made steady progress. In terms of highways, the "two major" highways [1] of the China-Pakistan Economic Corridor have been successfully completed and opened to traffic, and the China-Russia Heihe Bridge has been completed. In aviation, the network of international civil aviation transport routes continues to expand. By the end of 2021, China has signed bilateral intergovernmental air transport agreements with 100 countries, maintained regular passenger and cargo service with 54 of them, and signed regional air transport agreements with ASEAN and the European Union.

As an effective carrier of reciprocal connectivity between China and countries along the Belt and Road, the China-Europe Freight train will play a more prominent role in connecting the logistics between China and Europe. By the end of January 2022, more than 50,000 China-Europe freight trains, carrying over 4.55 million TEUS worth 240 billion US dollars, had reached 180 cities in 23 European countries, making a positive contribution to the high-quality development of the Belt and Road Initiative. In particular, since the unification of the brand in 2016, the port and channel transportation capacity of China-Europe freight trains has been effectively improved through the implementation of the capacity expansion and renovation project of ports and stations in Horgos, Alashankou, Erenhot, Manzhouli and other ports, and the construction of the demonstration project of China-Europe freight train assembly center for five urban hub nodes in Zhengzhou, Chongqing, Chengdu, Xi 'an and Urumqi. From 2016 to 2021, the annual number of China-Europe freight trains increased from 1,702 to 15,183. The transportation of goods has expanded to more than 50,000 kinds of auto parts and vehicles, chemical, mechanical and electrical, grain, etc. The annual value of freight transport increased from US $8 billion to US $74.9 billion, and its share in total trade between China and Europe increased from 1.5% to 8%.

Third, we increased unimpeded trade and expanded economic, trade and investment cooperation

Unimpeded trade is the focus of Belt and Road cooperation and an important force for sustainable economic development of all countries. Over the past eight years and more, the level of trade liberalization and facilitation between China and countries along the Belt and Road has been steadily improved, and trade modes have been constantly innovated, bringing unimpeded trade to a new level.

1.International trade has maintained rapid growth

Since the Belt and Road Initiative was put forward, China has increasingly engaged in trade with countries along the Belt and Road, becoming the largest trading partner of 25 countries along the Belt and Road. The establishment of a network of free trade areas covering the Belt and Road Initiative has been accelerated. China has signed seven free trade agreements with 13 countries along the Belt and Road, and signed mutual recognition agreements for Certified Operators (AEO) with 31 economies including the European Union and Singapore. From 2013 to 2021, the total value of imports and exports between China and countries along the Belt and Road increased from 6.5 trillion yuan to 11.6 trillion yuan, with an average annual growth rate of 7.5%, higher than the average annual growth rate of overall trade in goods during the same period. In the same period, the proportion of China's total foreign trade increased from 25% to 29.7%.

In addition, Silk Road e-commerce has become a new highlight and engine for expanding economic and trade cooperation. By the end of 2020, China had signed memorandums of understanding on "Digital Silk Road" cooperation with 16 countries, established bilateral cooperation mechanisms on "Silk Road e-commerce" with 22 countries, and jointly carried out multi-level and multi-field cooperation on policy communication, planning alignment, industrial promotion, sub-national cooperation and capacity building, focusing on fostering new growth points of trade and investment.

2. Two-way investment is mutually beneficial

With the solid progress of cooperation mechanisms, two-way investment and cooperation have maintained steady growth on the whole. From 2013 to 2021, China's direct investment in countries along the Belt and Road has accumulated to US $161.3 billion, with an average annual growth rate of 5.4%. Countries along the Belt and Road have become the first choice for Chinese companies to invest overseas. Countries along the Belt and Road have invested 32,000 enterprises in China, with a cumulative investment of US $71.2 billion. The total value of new contracts signed by China in countries along the Belt and Road has reached 1.1 trillion US dollars, with a turnover of 728.6 billion US dollars, covering transportation, electricity and other sectors.

3. Cooperation parks are developing vigorously

Overseas cooperation industrial park projects with countries along the Belt and Road are making steady progress, becoming an important carrier of economic and trade cooperation. A large number of industrial parks, such as China-Belarus Industrial Park, Thai-China Rayong Industrial Park, China-Indonesia Integrated Industrial Park Qingshan Industrial Park, China-Cambodia Sihanoukville Special Economic Zone, China-Egypt Teda Suez Economic and Trade Cooperation Zone, and China-Ethiopia Eastern Industrial Park, have developed rapidly on their own merits. It has played a positive role in undertaking cooperation between Chinese and foreign enterprises, providing employment for local people and promoting the economic development of host countries. Data show that [2] by the end of 2021, overseas economic and trade cooperation zones are distributed in 46 countries, with a cumulative investment of US $50.7 billion, taxes and fees of US $6.6 billion paid to host countries, and 392,000 local jobs created.

Fourth, we expanded financial financing and continued to improve the financial system

Financial integration is an important support and guarantee for the Belt and Road Initiative. China has actively carried out financial cooperation with countries along the Belt and Road, promoting the establishment of a multi-level financial service system to provide diversified financial support and services for the Belt and Road Initiative.

1. The synergy of financial institutions has been gradually enhanced

At present, the financial departments of 29 countries, including China, have jointly approved the Guiding Principles on Financing of the Belt and Road Initiative, which aims to give full play to the forces of the government and the market, encourage the participation of countries, international organizations, financial institutions and investors along the Belt and Road, and build a diversified financing system with long-term, stable, sustainable and controllable risks. China has established a joint capacity building center with the International Monetary Fund to provide intellectual support for optimizing the macroeconomic and financial framework of Belt and Road countries. China will jointly set up a multilateral development financing cooperation center with the World Bank, the Asian Infrastructure Investment Bank and the Asian Development Bank to promote infrastructure connectivity among international financial institutions and relevant development partners.

2.Multilateral financial cooperation is playing a supporting role

Thanks to the joint efforts of all parties, multilateral financial cooperation institutions such as the Asian Infrastructure Investment Bank [3] and the Silk Road Fund have been established to provide investment and financing support for the Belt and Road Initiative and bilateral and multilateral connectivity. By October 2021, the number of AIIB members has grown from 57 when it was launched to 104, second only to the World Bank, covering six continents, namely Asia, Europe, Africa, North America, South America and Oceania. By the end of 2021, the AIIB had approved 158 projects with a total investment of 31.97 billion U.S. dollars. Since the outbreak of COVID-19, the AIIB has set up a special emergency response fund to support the emergency public health funding needs of its member countries, benefiting 19 countries including Vietnam, Georgia, Pakistan, Turkey and Kazakhstan. The emergency response fund has been increased from the initial quota of US $10 billion to US $13 billion. By the end of 2020, the Silk Road Fund had signed 49 projects focusing on equity investment, covering many countries along the Belt and Road. 70 percent of the signed funds were used for large-scale international cooperation projects such as power plant development, infrastructure construction, port and shipping, and high-end manufacturing.

Fifth, we strengthened people-to-people exchanges and deepened people-to-people exchanges

People-to-people connectivity is the foundation and key to the Belt and Road Initiative. In recent years, countries have carried out various forms of people-to-people exchange projects through cooperation in culture, education, tourism, scientific and technological innovation and the fight against COVID-19. The popular support for the Belt and Road Initiative has been consolidated.

1. Increasing cultural exchanges and interactions

The Belt and Road Initiative has created conditions for international personnel training and cooperation. After the initiative was put forward, China formulated the Education Action on Jointly Building the Belt and Road, which focuses on strengthening practical cooperation at home and abroad, stepping up efforts to promote people-to-people exchanges, and constantly building public support for the Belt and Road Initiative. By the end of 2019, China had signed agreements on mutual recognition of academic qualifications and degrees in higher education with 24 countries along the Belt and Road, a total of 60 institutions of higher learning were running schools overseas in 23 countries along the Belt and Road, and 16 institutions of higher learning had set up 17 joint laboratories for international cooperation with the Ministry of Education. At the same time, the number of cultural activities themed on "The Belt and Road" has increased significantly, and the trend of branding is obvious, which continuously promotes the all-round and in-depth development of Sino-foreign cultural exchanges.

2. There are many highlights in scientific, technological and innovation cooperation

Since the launch of the Belt and Road Science, Technology and Innovation Action Plan in 2017, China has cooperated with Belt and Road countries in science, technology and people-to-people exchanges, joint laboratory building, science park cooperation and technology transfer, so as to jointly embrace the new round of scientific and technological revolution and industrial transformation and promote the construction of innovation road. By the end of 2021, China had established scientific and technological cooperation with 84 co-developing countries, supported 1,118 joint research projects, and invested 2.99 billion yuan in 53 joint laboratories in agriculture, new energy, health and other fields.

3. Steady progress was made in providing assistance to people's livelihood

Relying on the Belt and Road cooperation platform, China has made great efforts to assist countries along the Belt and Road in poverty alleviation and poverty reduction by providing training in various professional skills, including poverty reduction and agriculture. According to the World Bank, the Belt and Road Initiative is expected to lift 7.6 million people out of extreme poverty and 32 million out of moderate poverty in relevant countries. Under the impact of COVID-19, China's achievements in coordinating epidemic prevention and control and economic development have been recognized by the international community. China launched the Belt and Road Vaccine Partnership Initiative with 31 partners, actively provided assistance and led international cooperation against COVID-19. In 2020, China provided a large number of epidemic prevention supplies, including protective suits, masks and ventilators, to 150 countries and 13 international organizations, and sent 37 medical teams to 34 countries. By the end of 2021, China has provided more than 2 billion doses of COVID-19 vaccine to more than 120 countries and international organizations, a large part of which is for countries along the Belt and Road. The joint fight against the epidemic has enriched the international cooperation under the Belt and Road Initiative and deepened the friendship among the Belt and Road countries.

The world today is undergoing profound changes unseen in a century. The new round of scientific and technological revolution and industrial transformation has brought about unprecedented fierce competition. Global issues such as climate change and epidemic prevention and control are having a profound impact on human society. The international environment for Belt and Road cooperation is becoming increasingly complex, but important opportunities remain. We should maintain strategic focus, seize strategic opportunities, firmly promote high-quality development under the Belt and Road, and build the Belt and Road into a road of peace, prosperity, openness, green development, innovation and civilization, so as to make new and greater contribution to the building of an open world economy and a community with a shared future for mankind.

Note:

[1] refers to Karachi-Lahore Highway (Sukur to Multan section) and Karakoram Highway Upgrade Phase II (Havelian to Takot section).

[2] Data from the Ministry of Commerce.

[3] AIIB for short.