Xi's trip to help build foundation for China-ASEAN community of common destiny

PLANNING THE FUTURE

Xi has repeatedly suggested aligning China's "Belt and Road" initiative with the development strategies of countries along the route.

During a visit to China in July, Singapore's President Tony Tan Keng Yam said he believed countries in the region will benefit from China's initiatives, including the "Belt and Road" and the recently created Asian Infrastructure Investment Bank (AIIB).

Tan said Singapore is happy to become a founding member of the AIIB and will participate in cooperation within the framework.

The two countries have agreed to speed up the negotiations of a third intergovernmental project focusing on modern connectivity and a modern service industry in West China, which is expected to be formally launched during Xi's visit.

Xi hopes it can be a demonstration project for China's "Belt and Road" initiative, Western Region Development and Yangtze River Economic Belt strategies.

Singapore and China also look forward to better financial cooperation to support projects under the "Belt and Road" initiative and increase access for Chinese companies to ASEAN markets through Singapore, a joint statement released in October said.

With soaring trade exchange, the two countries are looking forward to upgrading a bilateral free trade agreement.

To promote bilateral cooperation in production capacity, construction of cross-border economic cooperation zones, trade, infrastructure and investment, China and Vietnam also seek an alignment between the "Belt and Road" initiative and Vietnam's "Two Corridors and One Economic Circle" plan.

A joint study on the feasibility of a railway connecting Hanoi-Lao Cai-Hai Phong in northern Vietnam is the latest progress in the alignment of strategies.

During Trong's visit in April, China and Vietnam signed MOUs to form two working groups - one for infrastructure cooperation and one for finance and currency cooperation.

"I believe that with these working groups, the two countries can come up with tangible and workable cooperation plans on the building of infrastructure and transportation projects," said Vietnamese Ambassador to China Dang Minh Khoi.