Hong Kong Bauhinia Magazine:

This year marks the 10th anniversary of the BRI. I would like to ask, what achievements have been made in economic and trade cooperation under the framework of the initiative? What new measures will MOFCOM take to promote the high-quality development of the BRI? Thank you.

Wang Wentao:

Mr. Chen will answer this question.

Chen Chunjiang:

Since General Secretary Xi Jinping put forward the BRI in 2013, MOFCOM has worked with relevant parties to steadily promote economic and trade cooperation along the Belt and Road and made noticeable progress. Trade and investment between China and participating countries have steadily expanded, infrastructure connectivity has been strengthened, and cooperation in industrial chains and supply chains has been constantly enhanced. In terms of trade, from 2013 to 2022, China's trade in goods with countries along the Belt and Road doubled from $1.04 trillion to $2.07 trillion, with an average annual growth rate of 8%. In terms of investment, from 2013 to 2022, China's two-way investment with countries along the Belt and Road exceeded $270 billion. As of the end of 2022, Chinese enterprises had invested a total of $57.13 billion in overseas economic and trade cooperation zones in countries along the Belt and Road, creating 421,000 jobs for local people. In terms of project construction, from 2013 to 2022, the total value of newly-signed contracts and the total turnover of completed projects in countries along the Belt and Road exceeded $1.2 trillion and $800 billion, respectively, accounting for more than half of the total value of overseas projects contracted.

This year marks the 10th anniversary of the BRI. Standing at this new starting point, MOFCOM will thoroughly implement the guiding principles of General Secretary Xi Jinping's important speeches on jointly building the BRI, and decisions and deployments made at the 20th CPC National Congress. We will jointly prepare for the third Belt and Road Forum for International Cooperation and continue to deepen and consolidate economic and trade cooperation along the Belt and Road. We will lay more focus on the following five aspects.

First, we will concentrate on improving quality. We will optimize the trade structure and expand imports of quality goods while continuing to expand trade with participating countries. We will get more deeply involved in the global industrial division of labor and cooperation and improve the two-way investment structure. We will also promote the negotiation and signing of free trade agreements with more participating countries and speed up the building of a free trade zone network covering the Belt and Road countries. We will make good use of trade corridors, promote cooperation in building the New International Land-Sea Trade Corridor, and improve the quality and efficiency of the China-Europe Railway Express service.

Second, we will expand areas of cooperation. We will meet the development needs of participating countries and seek the conclusion of bilateral cooperation agreements on green development, the digital economy, and the blue economy. We will promote all-around cooperation in green infrastructure, green energy, green industries, and green trade and further bolster the green development of the BRI. We will actively foster new forms and models of digital cooperation, promote the development of "Silk Road e-commerce," and create pilot zones for "Silk Road e-commerce" cooperation.

Third, we will launch more quality projects. We will promote the construction of high-quality infrastructure projects with participating countries and expand tripartite and multi-party market cooperation. We will focus on the areas of poverty reduction, health, education, and others, and introduce more "small but beautiful" projects to enhance local people's sense of gain and recognition. We will promote the upgrading of overseas economic and trade cooperation zones and jointly build demonstration zones for economic and trade innovative development with ASEAN countries. 

Fourth, we will build more platforms. We will give full play to the role of multilateral and bilateral economic and trade mechanisms and platforms and promote the establishment of more working groups on unimpeded trade and investment cooperation. We aim to successfully deliver various kinds of exhibitions, such as the China and Central and Eastern European Countries Expo, the China-Arab States Expo, and the China-Africa Economic and Trade Expo. We will earnestly implement the outcomes of the Shanghai Cooperation Organization summits, the China-Arab States Summit, and the China-Gulf Cooperation Council Summit and promote the implementation of the nine programs for China-Africa cooperation.

Fifth, we will strengthen guarantees. We plan to provide high-quality public service products and continuously issue guidelines for overseas investment and cooperation by country and region. We will also promote the signing and upgrading of investment protection agreements with participating countries to provide more guarantees for the high-quality development of the BRI. Thank you.