China to invest additional $14.5 billion into the Silk Road Fund
Almaty. May 15. Silkroadnews - Chairman of the People’s Republic of China Xi Jinping took part in the opening ceremony of the Beijing-hosted “One Belt, One Road” forum on international cooperation, the Chinese media reported.
“Peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit – are the core of the Silk Road spirit. And this is the most valuable heritage of human civilization”, Xi Jinping said.
He noted, China will increase financial support for “One Belt, One Road” construction investing additional 100 billion yuan (around $14.5 billion) into the Silk Road fund and facilitate financial structures to carry out operations abroad using the yuan funds that according to preliminary estimates amount 300 Billion yuan (around $43.5 billion).
With this, Xi Jinping also noted, China will actively develop a mutually beneficial trade and economic partnership with the member states of “One Belt, One Road” initiative. Creation of a free trade network within the initiative framework and the Chinese International Import Fair are planned to contribute to this starting from 2018. The plans also include strengthening cooperation in the field of innovation, developing action plan for scientific and technological innovation within “One Belt, One Road” initiative framework, developing scientific and technical exchanges, and building joint laboratories and scientific and technical parks.
China’s intentions also include providing developing countries and international organizations involved in “One Belt, One Road” construction with assistance in realization of even greater number of projects aimed at improving people’s lives, building a relations mechanism to coordinate work after the forum and a new platform for cooperation in the humanitarian field, the PRC President stated.
“One Belt, One Road” forum is being held in Beijing. The forum gathered about 1500 representatives from more than 130 countries and 70 international organizations, including 29 heads of foreign states and governments.
