New fund finances modern Silk Road

China has established a fund to finance infrastructure projects along the land-based and maritime Silk Roads, a major step forward under a national strategy to revive the centuries-old trading routes connecting Asia and Europe.

President Xi Jinping said at a financial meeting of the central government on Thursday that the fund will be used to support building of infrastructure including transportation, utilities and telecommunications in countries along the Silk Road economic belt and maritime route.

The creation of the fund was seen by experts as a sign of China's ambition to seek further integration of the global economy and to use its financial strength to promote a well-built and connected Eurasian economic circle.