BEIJING: The volume of direct investments by Chinese companies in the economies of the countries participating in the Belt and Road Initiative have continued to grow rapidly, according to Chinese Foreign Minister Wang Yi. \u201cOver the past eight years, the Belt and Road Initiative has turned from a sketch into a reality, providing tremendous opportunities and bonuses to countries around the world,\u201d the Chinese Foreign Ministry\u2019s website quoted him as saying at a video conference on cooperation within the framework of the initiative in the Asia-Pacific region. \u201cThe aggregate trade between China and the countries participating in the One Belt, One Road initiative has exceeded $9.2 trillion. TLTP
\nDirect investments of Chinese companies in the countries of the project have exceeded $130 billion,\u201d Wang said.
\nHe also pointed out that despite the difficult epidemic situation, trade between China and the countries of the initiative reached a record $1.35 trillion in 2020. That had a positive impact on combating the consequences of the Covid pandemic, stabilising the economy and protecting the welfare of the population.
\nThe ambitious multi-trillion dollar Belt and Road Initiative (also known as the \u2018New Silk Road\u2019), announced by Chinese President Xi Jinping in 2013, aims to boost connectivity and cooperation between East Asia, Europe and East Africa. It is expected to significantly expand global trade, cutting trading costs in half for the countries involved.<\/p>\n","protected":false},"excerpt":{"rendered":"
BEIJING: The volume of direct investments by Chinese companies in the economies of the countries participating in the Belt and Road Initiative have continued to grow rapidly, according to Chinese Foreign Minister Wang Yi. \u201cOver the past eight years, the Belt and Road Initiative has turned from a sketch into a reality, providing tremendous opportunities […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-200600","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n