MoU with Italy a milestone for Belt and Road progress

The signing of a memorandum of understanding between China and Italy on Saturday to jointly advance the construction of the Belt and Road is a milestone not just for China but also for the world.

It is a sign that China's Belt and Road Initiative, which is meant to establish better connectivity for the promotion of economic globalization, has started to be accepted by developed countries.

Since it was put forward by Chinese President Xi Jinping in 2013, more than 100 countries have joined the initiative. Yet, until now, none of the developed countries from the G7 was a participant, although the initiative is inclusive and open to any country.