Xi's milestone Eurasia trip

Chinese President Xi Jinping (R) meets with Russian President Vladimir Putin in Fortaleza, Brazil, July 14, 2014. [Photo/Xinhua]

President Xi Jinping's trip to Kazakhstan, Russia and Belarus that began on Thursday marks a milestone in China's efforts to advance its Belt and Road cooperation proposals.

It was during his visit to Kazakhstan in 2013 that Xi first put forward the idea of a Silk Road Economic Belt. During his visit to Indonesia the following month, Xi advocated constructing a 21st Century Maritime Silk Road. The two initiatives are not only in the common interests of the parties concerned, but also will cement the trend of regional and global cooperation.

Strategic cooperation between China and the countries along the routes has increased since Xi first raised the initiatives. Kazakh President Nursultan Nazarbayev has said Kazakhstan will dovetail some new economic policies with the new overland Silk Road. Russian President Vladimir Putin has also said Russia's Eurasian Railway will be linked to it. Indonesian President Joko Widodo has expressed willingness to link Indonesia's maritime development program to the new maritime Silk Road.

During his trip, Xi will negotiate with the host countries some significant projects as part of bilateral efforts to push forward the Silk Road Economic Belt on a mutually beneficial basis.

In 2014, China's outward investment for the first time exceeded its inward foreign capital, making it a net capital exporter. In the same year, China imported commodities worth $2 trillion. Statistics from the Ministry of Commerce indicate that in the first quarter of 2015, China's bilateral trade with countries along the two new Silk Roads reached $226 billion, 26 percent of its total import and export volume. A study by the consulting firm McKinsey also indicates that the two initiatives are expected to contribute 80 percent to the world's regional economic growth. All these heartening figures foretell the benefits that can be reaped from establishing the two new Silk Roads.

The above is a People's Daily article published on Thursday.