Beijing commits to high-quality Belt and Road cooperation

0 Comment(s)Print E-mail, October 17, 2023
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Over the past years, businesses in Beijing have committed to the high-quality development of the Belt and Road Initiative (BRI), contributing to increased trade and interconnectivity, as well as better livelihoods for people along the route.

Since 2013, Beijing-based companies have directly invested US$6.06 billion in Belt and Road countries, undertaking significant projects of infrastructure as well as resource exploration and development.

An official told Beijing Daily that, by capitalizing on its advantages in such areas as technology research and development, consulting and design, investment and construction, and operation management, the city has actively participated in nearly 20 key Belt and Road projects in countries like Kenya, Indonesia, the Maldives, and Pakistan. These projects include the Mombasa-Nairobi Railway, the Jakarta-Bandung High-Speed Railway, the Velana International Airport expansion in the Maldives, the Gwadar New International Airport in Pakistan, and the China-Belarus Industrial Park, which have supported the development of key nodes along the Belt and Road international corridors and contributed to improving local infrastructure and industrial development.

In the first half of 2023, trade between Beijing and BRI partner countries reached 907.97 billion yuan (US$124.19 billion), accounting for 50.9% of Beijing's total import and export value during the same period, an increase of nearly 15 percentage points compared to 2015.

Beijing-based companies involved in the BRI have not only developed internationally themselves, but also provided tangible benefits to host countries in such ways as alleviating poverty, creating jobs, improved living conditions, and contributing to industrial upgrading, the official said. In 2021, Beijing's companies with overseas operations contributed a total of US$1.88 billion in taxes to host countries and created 77,000 local jobs.

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