China announces new initiative for BRI

 Chinese Presi­dent, Xi Jinping, has announced new initiatives aimed at propelling the Belt and Road Initiative (BRI) into another prosperous decade of development, after 10 years of fruitful implementation.

At the opening of the Third Belt and Road Forum for International Cooperation in Beijing on Wednes­day, President Xi said the initiatives focused on connectivity, economic openness, and sustainable develop­ment.

The BRI was launched by President Xi Jinping a decade ago to enhance global connectivity and collaboration and it has expanded from the Eurasian continent to include Africa and Latin America, encompassing over 150 countries.

The BRI emphasises not only physical connectivity but also guiding principles for high-quality, sustainable cooperation. President Xi’s recent speech highlighted the BRI’s global significance and evolu­tion over the past decade.

Highlighting the new initiatives, President Xi said it included multi­dimensional Connectivity Network which would see China develop comprehensive connectivity net­work by participating in trans-Cas­pian international transportation, expanding the China-Europe Railway Express, and promoting direct railway and road connections across the Eurasian continent.

To bolster global economic openness, he said China would establish pilot zones for Silk Road e-commerce cooperation and en­gage in more free trade agreements and investment protection treaties as a means to remove barriers to foreign investment in the manufac­turing sector and broaden market access for digital products and goods.

He said the country would con­tinue to support practical cooper­ation by financing both signature projects and smaller livelihood programmes through entities like the China Development Bank and the Export-Import Bank of Chin to shore up the exiting multi-billion Cooperation agreements.

As a proponent of environmen­tal sustainability, President Xi said China would deepen its collabora­tion in green infrastructure, energy, and transportation with the aim of facilitating the BRI International Green Development Coalition.

He said China would implement the Belt and Road Science, Tech­nology, and Innovation Coopera­tion Action Plan to keep up with technological advancements.

Under this initiative, he said plans include the establishment of 100 joint laboratories within the next five years and a focus on Artificial Intelligence (AI) governance.

President Xi said Cultural and educational exchanges will remain a central element of the BRI with China ready to host the Liangzhu Forum to foster dialogue on civili­sation with partner countries.

To ensure the integrity of Belt and Road cooperation, he said China would release achievements and prospects related to integrity building while the eight initiative would be the strengthening of institutional frameworks and plat­forms for international Belt and Road cooperation with the set-up of a dedicated secretariat for BRI.

He said conceptual blueprints have been transformed into real projects; evolved from physical infrastructure development to institutional connectivity and forged High-quality cooperation principles and global connectivity and cultural exchanges.

President Xi said the BRI had transformed international trade by facilitating trains, automobiles, flights, cargo ships, and e-com­merce while it had created new economic corridors and growth drivers.

“We have learned that human­kind is a community with a shared future. China can only do well when the world is doing well. When China does well, the world will get even better,” he said.