Big money sought to connect Asia-Pacific

Joint efforts are needed by Asia-Pacific countries to create innovative financing mechanisms to develop infrastructure, according to an official at a connectivity symposium in Yangzhou, Jiangsu province, on Tuesday.

Huang Mengfu, honorary chairman of the China National Committee for Pacific Economic Cooperation, said at the symposium - the International Symposium: Connecting the Connectivities in Asia Pacific - that in 15 to 20 years, global demand for infrastructure investment will reach $50 trillion.

According to the World Economic Forum, annual demand globally is currently $3.7 trillion, but as there is a $1 trillion shortage of investment, actual investment is about $2.7 trillion, Huang said.