Belt & Road trade set to boom in next decade, says top expert

China's trade with economies participating in the Belt and Road Initiative is likely to deliver double-digit growth in the next five to 10 years, if institutional hurdles are gradually removed, said a leading international trade expert.

"The estimated growth would be five to six percentage points higher than China's trade volume with other countries and regions," said Wei Jianguo, former vice-minister of commerce.

"That would be accompanied by a shift from traditional sectors such as textiles, machinery manufacturing, agriculture and infrastructure to industries like information technology, aerospace, high-speed rail and tourism," said Wei, who is also vice-president of the China Center for International Economic Exchanges, a major government think tank.