Hong Kong Economic Herald:

My questions are related to the Belt and Road Initiative (BRI), put forward by President Xi Jinping in 2013. What achievements have MOFCOM made in promoting the initiative? And what contributions have been made in building a community with a shared future for mankind? What is the situation regarding China's investment in countries along the Belt and Road this year? And what are MOFCOM's investment plans going forward? Thank you.

Qian Keming:

China has been actively promoting mutual development and prosperity between China and the rest of the world in its course of building a moderately prosperous society in all respects. In 2013, President Xi Jinping proposed the BRI with a focus on building a community with a shared future for mankind. Over the past eight years, fruitful outcomes have been achieved in the process of advancing the grand visionary initiative through practical actions; and a highly extensive platform for international cooperation has been formed as a global public good which has been extremely popular. Next, I will introduce the progress made by MOFCOM in promoting the BRI from five aspects:

First, unimpeded trade was deepened. We promoted the high-efficient flow and rational distribution of resources. China has positively expanded imports, developed new forms and models of business such as cross-border e-commerce, promoted the construction of overseas warehouses, stepped up efforts to build grand trade passageways including China-Europe freight routes and the New International Land-Sea Trade Corridor, and shaped a network of free trade zones built with high standards. Between 2013 and 2020, China registered $9.2 trillion in total volume of goods trade with other Belt and Road countries.

Second, investment and cooperation continued to be improved and industrial and supply chains were established for mutual benefit. China focused on facilitating outward investment and cooperation, deepened international production capacity cooperation, and promoted trilateral and multilateral market collaboration, as well as actively attracting overseas enterprises to invest and operate their businesses in China. From 2013 to 2020, China invested a total of $136 billion directly into other Belt and Road countries, and a total of 27,000 enterprises from other Belt and Road countries were established in China, with total investment volume reaching approximately $60 billion.

Third, cooperation projects were effectively implemented and partnerships for improving connectivity were deepened. China, with host countries, jointly promoted infrastructure connectivity, accelerated the construction of green projects and projects related to people's well-being, and co-established overseas economic and trade cooperation zones. Between 2013 and 2020, Chinese enterprises registered a turnover of $640 billion in contracted projects in other Belt and Road countries. As of the end of 2020, the economic and trade cooperation zones built by Chinese enterprises in these countries had seen investment of nearly $40 billion, paying fees and taxes to the host countries exceeding $4.4 billion, and creating 330,000 jobs for local people.

Fourth, we set up and improved various mechanisms and platforms to provide tremendous opportunities for boosting openness and cooperation. So far, China has signed more than 200 cooperation documents with 172 countries and international organizations to promote the BRI, increasing its circle of friends. MOFCOM made efforts to build more than 90 bilateral cooperation mechanisms regarding unimpeded trade, investment and cooperation, service trade, and e-commerce to tackle problems encountered when cooperating via practical measures. At the same time, the successes of the CIIE, Canton Fair, CIFTIS and China International Consumer Products Expo have significantly boosted trade connections with the countries and regions involved.

Fifth, we wrote a vivid chapter in building a community with a shared future for mankind when we worked together to fight against the COVID-19 pandemic with vigorous and effective measures. Faced with the sudden outbreak of the pandemic, China, while endeavoring to ensure proper domestic prevention and control measures, cooperated with other countries to overcome difficulties through mutual assistance. China has so far provided emergency assistance to 150 countries and 13 international organizations, and exported anti-epidemic supplies to more than 200 nations and regions, and is providing vaccine assistance to 102 nations and four international organizations.

Going forward, MOFCOM will follow the decisions and arrangements of the CPC Central Committee and the State Council, continue to deepen economic and trade cooperation through the BRI, boost trade using well rounded approaches, make investments and build cooperative relationships innovatively, improve relevant platforms and mechanisms, strengthen risk prevention and control, and realize high-quality development through the BRI, thus making continued contributions to building a community with a shared future for mankind, with deeper and more solid measures. Thank you.