Xing Huina:

Last question.

Phoenix TV:

I'd like to ask a question about the Belt and Road Initiative (BRI). We know that in recent years, centrally administered SOEs have implemented the BRI, creating a number of major projects and landmark initiatives, such as the Jakarta-Bandung High-speed Railway and the China-Laos Railway. As the BRI enters a new stage of high-quality development, how will SASAC and centrally administered SOEs seize this historic opportunity to further promote higher quality and higher level development of the BRI? Thank you.

Wang Hongzhi:

Thank you for your question. Centrally administered SOEs are an important force in China's participation within international competition and cooperation and in the high-quality cooperation under the BRI. Since President Xi Jinping proposed the BRI in 2013, the central SOEs have actively engaged in this great practice. They have invested in and cooperated on over 5,000 projects in participating countries and regions, improving their international operations while creating significant economic and social value for partner countries. The specific achievements are reflected in three aspects:

First, we have deepened infrastructure cooperation. Traditional infrastructure cooperation has progressed steadily and new types of infrastructure cooperation has been actively carried out. A number of landmark projects and demonstration projects have been completed. For example, in the nine months since the Jakarta-Bandung High-speed Railway began operations, it has carried over 4 million passengers. Additionally, telecommunications companies' overseas service networks cover more than 40 participating countries, and the SEA-ME-WE 5 undersea cable project has greatly enhanced communication capabilities along the route.

Second, the focus on green development has become more prominent. We have actively practiced ESG concepts with these enterprises undertaking about 300 key clean energy projects, including hydropower, wind power and photovoltaic projects. Landmark projects such as the Belo Monte UHV DC Transmission Project in Brazil and photovoltaic power station in Qatar are operating smoothly, effectively helping host countries in their green transformation and low-carbon development.

At the same time, we have delivered more benefits to local people. These projects have created nearly one million jobs locally. Centrally administered SOEs actively engaged in livelihood projects. For instance, the Hualong One project that we invested in and built for Pakistan has met the electricity needs of two million local people, while the Côte d'Ivoire urban water supply project benefited 2.3 million people.

Last year, President Xi Jinping delivered an important speech at the third Belt and Road Forum for International Cooperation, proposing eight major actions. The recently held third plenary session of the 20th CPC Central Committee further made major arrangements for improving mechanisms to promote high-quality cooperation under the BRI. The central SOEs will thoroughly implement these plans, leveraging their advantages and strengths, deepening opening up and cooperation as well as accelerating the high-quality development of enterprises' international operations.

We will focus on expanding new channels for interconnectivity, deepening practical cooperation in traditional fields, such as infrastructure, and steadily expanding cooperation in new areas, such as health, green development and digital technology, to shape a new landscape of interconnectivity.

We will focus on creating new benchmarks for cooperation projects, deepening international cooperation in production capacity and equipment manufacturing as well as ensuring the construction and operation of benchmark projects, such as the Jakarta-Bandung High-speed Railway, the Hungary-Serbia Railway and the China-Pakistan Economic Corridor. At the same time, we will actively address livelihood needs and build more "small but beautiful" projects with considerable economic and social benefits.

We will focus on consolidating new cornerstones for secure development, adhering to market-oriented, law-based and internationalized operations. Thus, we will firmly establishing compliance awareness to strengthen risk prevention and control systems, ensuring the safety of overseas projects and personnel as well as helping to promote the steady, continued and high-quality cooperation under the BRI. Thank you!

Xing Huina:

Today's press conference ends here. Thank you to our speakers and to all of our media friends. Goodbye, everyone.

Translated and edited by Wang Yiming, Wang Qian, Li Xiao, Wang Yanfang, Zhang Rui, Huang Shan, Yan Bin, Wang Wei, Gong Yingchun, Yuan Fang, Qin Qi, Li Huiru, Liao Jiaxin, Liu Sitong, Xu Kailin, Zhang Junmian, Cui Can, David Ball, Rochelle Beiersdorfer, and Jay Birbeck. In case of any discrepancy between the English and Chinese texts, the Chinese version is deemed to prevail.