Launched by the People’s Republic of China in 2013, the Belt and Road Initiative is a large-scale economic development and investment project that aims to revitalise global trade, develop infrastructure projects and strengthen connectivity. Beijing hosted the third Belt and Road Forum on 17 and 18 October 2023. The forum, which commemorated the 10th anniversary of the project, was a global vision and success story, as evidenced by the participation of many world leaders. China also had the opportunity to express its views on the Belt and Road Initiative through the forum
Over the past 10 years, the Belt and Road Initiative has not only forged links between member countries and regions, but also contributed to improving the welfare of people around the world by giving a new impetus to economic growth.
Over the past decade, China has actively established standards and institutions and implemented them in overseas projects In order to meet the challenges of the digital finance era, the People’s Bank of China has also stepped up its work on knowledge sharing, joint research and innovation and regulatory cooperation in the field of “fintech” with the Belt and Road countries, ensuring the smooth development of the “Digital Silk Road”.
China has made full use of its advantages in strengthening cooperation with the Belt and Road countries through training in the digital economy and has implemented important training programmes, particularly in digital economy skills, which have helped to increase the incomes of its farmers. China is also deepening its health and medical co-operation with the Belt and Road countries.
After the outbreak of the COVID-19 pandemic, China has effectively promoted the resumption of economic recovery by providing a large number of vaccines. In order to ensure the high-quality development of the Belt and Road Initiative, China is building a model of international mobility with a focus on the countries of the Global South through projects developed within the framework of the initiative. As the world’s factory, China continues to offer more “Made in China” and “Made in China” brands to the world to create mutually complementary trade and economic ties with the Belt and Road countries.
Initially supported by 65 countries and more than 20 international organisations, the initiative has attracted the participation of more countries over time. The Belt and Road Initiative has reached all continents with 44 Sub-Saharan African countries, 35 European and Central Asian countries, 25 East Asian and Pacific countries (including China), 21 Latin American countries and the Caribbean, 18 Middle East and North African countries, 6 Southeast Asian countries. In addition, this project continues to work with 18 European Union (EU) countries and 9 G20 countries. The Belt and Road Initiative has attracted the participation of many countries since its inception and has become an international project in which more countries want to participate. These countries recognise the potential economic opportunities provided by the initiative and aim to benefit from the trade and infrastructure advantages of participating in the project. China is undertaking a number of diplomatic initiatives to encourage the participation of other countries and to give the Belt and Road Initiative a more international dimension. As a result, the Belt and Road Initiative operates in a wide geography, particularly in Asia, Africa and Europe.
This project has been a significant success in terms of stimulating economic growth, increasing trade and strengthening global co-operation among the participating countries. The success and sustainability of the initiative is based on China’s responsive policies, careful planning and transparency, taking into account the needs of participating countries. The Belt and Road Initiative continues to attract the participation of more countries around the world and aims to contribute positively to the global economy by increasing cooperation and economic integration among participating countries.
