Commitment to peace stressed in Xi's speech

Equitable development and mutual respect underscored at forum: Experts

Chinese President Xi Jinping's keynote speech at the third Belt and Road Forum for International Cooperation showed China's commitment to a world characterized by "peace, mutual respect, cooperation, and more equal and equitable development", global experts said.

Xi delivered his keynote speech at the opening ceremony of the third Belt and Road Forum for International Cooperation in Beijing last week.

In his speech, Xi lauded the achievements of the BRI over the past 10 years and laid out eight major steps that China will take to support the pursuit of high-quality Belt and Road cooperation, including "building a multidimensional Belt and Road connectivity network".

Michael Dunford, emeritus professor of the University of Sussex in the United Kingdom, said the speech was infused with values that express a commitment to a world "characterized by peace, mutual respect, cooperation, and more equal and equitable development".

"In his speech, President Xi put forward eight significant steps but what was most striking were several general remarks which indicate that if China's partners do well China does well, and if China does well so do its partners," said Dunford, who is also a visiting professor at the Institute of Geographical Sciences and Natural Resources Research at the Chinese Academy of Sciences.

"President Xi was drawing on core Chinese concepts of harmony and symbiosis widely shared in the Global South."

Dennis Munene, executive director of the China-Africa Center at the Kenya-based Africa Policy Institute, said the speech epitomized the philosophical idea that drives cooperation toward a path of sustainable development.

"Anchored on the three pillars of 'planning together, building together, and benefiting together', the Belt and Road cooperation has delivered fruitful results and empowered civilizations across the world," he said.

Xi pledged in his speech that the China Development Bank and the Export-Import Bank of China will each set up a 350 billion yuan ($47.8 billion) financing window. An additional 80 billion yuan will also be injected into the Silk Road Fund.

"The financing is helpful to revitalize the global economy, especially to the over 150 countries as their post-COVID-19 economic recovery strategy," said Munene.

Fruitful results

Statistics show that the BRI has helped lift about 40 million people out of poverty in countries involved in the initiative. It has also galvanized up to $1 trillion of investment globally and created more than 3,000 projects and 420,000 jobs over the past decade.

A report by global economic consultants CEBR estimated that the BRI is likely to boost world GDP by $7.1 trillion every year by 2040.

This is a clear show of confidence and commitment that the Belt and Road Initiative will emancipate civilizations from under-development and it is on the right side of history, said Munene.

Adhere Cavince, a scholar of international relations with a focus on China-Africa development cooperation, said that the president's address to the forum will guide BRI cooperation toward a just, inclusive, and prosperous partnership.

"This is certainly good news for developing countries, most of which view China as a strategic development partner, said Cavince, welcoming Xi's announcement on deals during the forum and additional commitments by Chinese policy banks to fund BRI projects.

The eight major steps in the next phase of the BRI as exemplified by President Xi should "guide implementing countries toward a just, inclusive and prosperous partnership", said the scholar.

As an observer, Damilola Ogunbiyi, special representative of the United Nations' secretary-general for sustainable energy for all, said the BRI can advance renewable energy adoption across the Global South countries in the next decade.

"As the world's largest manufacturer of solar panels, wind turbines, batteries, and electric vehicles, China is well-placed to help enable the adoption of low-carbon technologies at scale in emerging economies and developing nations through the BRI," Ogunbiyi said.

Xinhua and Zhao Ruinan in Beijing contributed to this story.