'Internet of credit' to boost economic development

Establishing an "internet of credit" that supplements the Belt and Road Initiative will help spur regional cooperation, especially in the Central Asian region, experts said.

According to Zhang Yunqi, a professor at the Business School of the Central University of Finance and Economics, the BRI development, especially in the Central Asian region, hinges largely on the success of credit-based international trade.

"Without credit, business cannot be undertaken. It is the essence of policy communication, trade circulation and funding between the 11 countries in the Central Asian region. Hence it is necessary to build a business credit network within the region," he said in his address to the Belt and Road New Economy Forms Development Forum, jointly organized by the Circulation Expert Committee of China, and the Central Asia Regional Economic Cooperation Institute, in Beijing. It was aimed at boosting Belt and Road construction, as well as offering suggestions to China in the new era.