BEIJING: Chinese President Xi Jinping announced eight major steps to support high-quality cooperation, in his speech at the opening ceremony of the third Belt and Road Forum on Wednesday. Here are the highlights:

Multidimensional network

China will build a multidimensional connectivity network, speeding up the development of the China-Europe Railway Express, participate in the trans-Caspian international transportation corridor, and host the China-Europe Railway Express Cooperation Forum.

Open economy

With its trade in goods and services expected to exceed $32tr and $5tr, respectively, in 2024-28, the country will establish pilot zones, and enter into free trade agreements and investment protection treaties with more countries.

Practical cooperation

The country will promote both signature projects and “small yet smart” livelihood programmes. Xi noted that the China Development Bank and the Export-Import Bank of China will each set up a $48.75bn financing window.

Green development

“China will continue to hold the BRI Green Innovation Conference, and establish dialogue and exchange mechanisms for the solar industry and a network of experts on green and low-carbon development,” President Xi said.

Scientific innovation

The Chinese president announced plans to support young scientists from other countries to work on short-term programmes in China and put forward the Global Initiative for Artificial Intelligence (AI) Governance at this year’s forum.

People-to-people

China will host the Liangzhu Forum to enhance dialogue on civilisations with BRI partner countries.

China will continue with the Chinese government scholarship Silk Road Programme, he noted.

Evaluation system

China will establish an Integrity and Compliance Evaluation System for Companies Involved in Belt and Road Cooperation.

Multilateral cooperation

China will work with its partner countries to strengthen the building of multilateral cooperation platforms covering energy, taxation, finance, green development, disaster reduction, anti-corruption, think tank, media, culture and other fields.—Courtesy CHINADAILY.COM.CN

Published in Dawn, October 19th, 2023