China's proposals on international cooperation

The Belt and Road Initiative

Tourists ride camels on the Mingsha Sand Dunes during a visit to Crescent Moon Spring on the outskirts of Dunhuang county. [Photo/China Daily]

The Belt and Road Initiative is a development strategy started by the Chinese government in 2013. It refers to the New Silk Road Economic Belt, which will link China with Europe through Central and Western Asia, and the 21st Century Maritime Silk Road, which will connect China with Southeast Asian countries, Africa and Europe.

The New Silk Road Economic Belt initiative was proposed by President Xi Jinping in his keynote speech at Nazarbayev University in Kazakhstan in September of 2013, while the 21st Century Maritime Silk Road was mentioned by Premier Li Keqiang when he attended the China-ASEAN Exposition in 2013.

Neither the belt nor the road follows any geographical clear line, but both serve more as a roadmap for how China wants to further integrate itself into the world economy. Many of the countries mentioned have traditionally had close trade and investment relations with China, which says they should deepen cooperation, especially in terms of building infrastructure and other development projects.

The Belt and Road Initiative has been progressing steadily in the past year and China has established priority cooperation areas with many countries based on the development of various economic corridors. The initiative has become one of the best opportunities China's development has brought to the world.

China has also pledged $ 40 billion to a Silk Road Fund designed to improve trade and transport links in Asia. President Xi Jinping said the fund will be used to support the development of the Belt and Road Initiative.