BRI sets sail to realize bigger successes, glory

In his speech at the third Belt and Road Forum for International Cooperation which concluded recently in Beijing, Chinese President Xi Jinping reviewed the 10-year journey of the Belt and Road Initiative, which has been marked by cooperation and mutual benefit, summarized its remarkable achievements, and outlined eight major measures to support high-quality cooperation under the Belt and Road framework in the future.

Belt and Road cooperation is a magnificent symphony of history and reality. The Belt and Road Initiative, rooted in history, answers questions related to real issues. The ancient Silk Road connected Asia, Europe and Africa over land, while the maritime Silk Road linked the East and the West through the sea, giving rise to the Silk Road spirit which is characterized by peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit.

In 2013, President Xi proposed the Belt and Road Initiative, which comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road, reviving the Silk Road, so to speak, in the new era.

The world today is undergoing major, unprecedented changes. Economic globalization is facing opposition from many quarters, and the global economy is staring at recession. No wonder about 90 percent of the United Nations Sustainable Development Goals have been "derailed", and one-third of the goals are stagnating or have regressed. As such, the world's attention is focused on China, expecting it to lead the world toward a better future.

At this critical moment, President Xi, in his speech at the Belt and Road forum on Oct 18, announced that China will take eight major measures — building a multidimensional Belt and Road connectivity network, supporting an open world economy, carrying out practical cooperation to support high-quality Belt and Road construction, promoting green development, advancing scientific and technological innovation, supporting people-to-people exchanges, promoting integrity-based Belt and Road cooperation, and strengthening institutional building for international Belt and Road cooperation — to boost Belt and Road cooperation and facilitate modernization worldwide.

Belt and Road cooperation is a perfect synergy of concepts and practice, and excels in both ideas and real results. The initiative is in alignment with the concept of a global community of shared future, and has been welcomed by the international community both as a public good and a cooperation platform, and made remarkable achievements.

More than 150 countries and over 30 international organizations have already signed Belt and Road cooperation documents with China.

From 2013 to 2022, the cumulative value of imports and exports between China and BRI partner countries reached $19.1 trillion, with an average annual growth rate of 6.4 percent. The cumulative two-way investment between China and partner countries reached $380 billion, including $240 billion from China. The value of newly signed construction contracts with partner countries reached $2 trillion, and the actual turnover of Chinese contractors reached $1.3 trillion.

It has also seen the launching of a large number of signature projects and "small yet smart" people-centered programs. The initiative has also seen the establishment of cooperation mechanisms for the "Health Silk Road", the "Green Silk Road", the "Digital Silk Road" and the "Innovation Silk Road", as well as for more than 20 specialized multilateral cooperation platforms and people-to-people exchanges.

Among the important guiding principles laid down for high-quality Belt and Road cooperation are the principles of "planning together, building together, and benefiting together", along with open, green and clean cooperation, and the pursuit of high-standard, people-centric and sustainable cooperation.

Belt and Road cooperation benefits both China and the world. The Belt and Road Initiative has been proposed by China but belongs to the whole world. Under the initiative's framework, China has opened its door wider to the world, with its inland regions turning from "fullbacks" into "forwards", and coastal regions scaling newer heights in terms of opening-up. More important, China's market has become more closely integrated with the global market.

To be sure, the initiative has injected new impetus into the global economy, created new opportunities for global development, and improved the development capacity and the well-being of people in Belt and Road countries. The World Bank has estimated that by 2030, BRI-related investments could lift 7.6 million people out of extreme poverty and 32 million people out of moderate poverty.

In fact, impressed by the initiative's contributions to global growth, UN Secretary-General Antonio Guterres said the initiative has brought hope and progress for people across the world.

Facing changes that could be consequential for the world, the Belt and Road Initiative is setting sail to achieve even higher and nobler global development goals. And on its journey, it will create new opportunities for China and the rest of the world to achieve higher-quality and higher-level development, and help people live a happier life.

The author is the commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Macao Special Administrative Region. The views don't necessarily reflect those of China Daily.

If you have a specific expertise, or would like to share your thought about our stories, then send us your writings at opinion@chinadaily.com.cn or comment@chinadaily.com.cn.