"away along": deepeningEconomic and trade cooperationBuilding the path to prosperity
Zodiac news: trade and finance are helping china and “all the way” participating countries to develop their economies to achieve mutual benefits. Indeed, there is one word at the heart of the “across the road”, that is, “through the road”, and that trade is an important element in building a “across the road” together, and finance is a strong guarantee of “across the road”. What progress have we made over the past five years in financial transactions? How can trade cooperation among participating countries be promoted in establishing platforms and mechanisms? We'll listen to the analysis of the guest commentator, he wenping。
Joint platform for multilateral financial cooperation
Invited commentator ho wenping: indeed, good trade, including infrastructure, cannot be done without money. That is why, first of all, we have created a new platform for financial cooperation in the area of finance. Like in 2016Asian investment bankThe asian infrastructure investment bank, the asian infrastructure investment bank (aib), has grown particularly rapidly, having reached 93 member countries at its inception, with direct investment of $7. 5 billion and indirect push for other investments. For example, in the central pakistan economic corridor, the saudi crown prince invested $10 billion in the construction of oil refineries in the port of guadal. Our “one-way” construction projects have mobilized third-party investment, not only in saudi arabia, but also in malaysia and so on, into the construction of the central-palestinian economic corridor, so it has an extension-driven effect。
The asian development bank, the silk road foundation, and so on
We have also set up the silk road fund, a name that coincided closely with the “one-way road”, which was created with $40 billion in injections and a new $100 billion investment at the first “one-way road” summit in 2017. This is also an effective incentive for chinese enterprises to engage in various infrastructure-building and industrial cooperation in countries along the “one-way road”。
In addition to the financial cooperation institutions that we have built ourselves, we have signed guidelines for financial cooperation with countries that are “across the road” and, after consensus, can finance, issue debts, such as panda bonds, and finance further。
At the same time, a number of projects are cooperating with the international community. The bank itself is more international in nature, with a board of directors and members from various member countries. At the same time, some of our projects, such as china's sovereign investment fund, can work with saudi and united arab emirates sovereign investment funds to invest in projects, which is called financing cooperation. At the same time, some risks can be shared when projects are co-financed. For example, we're putting ourselves in a project that's huge, and that's a risk to you as an investor. So, if we all invest together, it can be effective in mitigating risks。
We are now talking about high-quality projects to build a “one-way path”, which is to talk about those aspects, the quality of financial investment, including project construction. Transparency and compliance with international standards in each area require progress towards quality. In moving forward “on the road”, not only financial cooperation, including aspects such as the quality of construction of some products, contracting for engineering, supervision, etc., may have been a little rough in the past, but in the process a development towards refinement has been achieved。
