2017 is the year when the 19th National Congress of the Communist Party of China (CPC) was held and the year when the development of the Belt and Road Initiative entered a new phase of comprehensive and pragmatic cooperation. In accordance with the unified deployment of the CPC Central Committee and the State Council, the Ministry of Commerce conscientiously implemented the spirit of General Secretary Xi Jinping's series of important speeches on the Belt and Road Initiative and, in combination with its own functions, enhanced overall coordination and solidified the foundation, opened up the situation and promoted the achievement of positive results in economic and trade cooperation along the Belt and Road.
I. Strengthen the connection of development plans and gather more cooperation consensuses. Made full use of existing mechanisms such as the bilateral joint committee and the mixed committee of economics and trade, strengthened communication with the government departments of countries along the Belt and Road and promoted the connection between the Belt and Road Initiative with the Eurasian Economic Union proposed by Russia, the Mongolia's "Road to Development" and the Vietnam's "Two Corridors and One Economic Circle" development plan. Elaborately designed the economic and trade cooperation achievements of the Belt and Road Forum for International Cooperation, put forward proposals for major foreign aid initiatives such as holding China International Import Expo and providing assistance of RMB 60 billion and implementing the projects with three one-hundred indicators. Such proposals were highly praised after announced by General Secretary Xi Jinping. Released the Initiative on Promoting Unimpeded Trade Cooperation along the Belt and Road with 83 countries and international organizations to promote the first international joint initiative document on unimpeded trade along the Belt and Road. Organized the Thematic Session on Trade Connectivity, which was attended by almost 200 representatives from over 60 countries and regions and over 10 international organizations, released a number of important achievements and reached a broad consensus.
II. Continue to expand trade contacts, and constantly improve facilitation. Promoted the implementation of the WTO's Agreement on Trade Facilitation, reduce trade barriers and properly resolve trade frictions. Optimized the trade structure and expanded the imports of superior products from countries along the Belt and Road. Developed new trade methods such as cross-border e-commerce and expanded trade in services such as transportation and construction. Conducted trade investment promotion activities and gave play to the role of comprehensive exhibitions including China-CEEC Investment and Trade Expo, China-ASEAN Expo and China-Arab States Expo. Did our best to prepare for the 2018 China International Import Expo and set up a new platform for international cooperation. During January-November this year, the trade turnover between China and countries along the Belt and Road reached US$983 billion, up 15.4% year on year.
III. Deepen cooperation in the investment area and tighten the ties of interests between all parties. Actively signed inter-governmental investment cooperation agreements upon negotiations, guided enterprises to take part in the infrastructure construction in countries along the Belt and Road, and drove equipment products, technologies, standards and services to jointly go out. Expanded investment cooperation fields and strengthened the cooperative development of energy resources and agriculture with the countries along the Belt and Road. Innovated investment methods and promoted the integrated construction and operation of overseas investment and cooperation projects. Made efforts to standardize the business conduct of enterprises and did a good job in verifying the authenticity and compliance of overseas investments. Relaxed restrictions to foreign capital access fields, created a high-standard international business environment, and attracted countries along the Belt and Road to invest in China. During January-November this year, the Chinese enterprises made direct investments in the countries along the Belt and Road of US$12.4 billion, and newly entered into engineering contracting contracts with the amount of US$113.5 billion, up 13% year on year; The countries along the Belt and Road actually invested US$5 billion in China and newly established over 3,500 enterprises.
IV. Promote the construction of major projects and create highlights of practical cooperation. Made full use of policy, development and commercial financial resources to support the construction of foreign contracted projects, investment cooperation and overseas economic and trade cooperation zones and enhance the demonstration-driven effect. At present, the Mombasa -Nairobi Railway in Kenya has been completed and put into operation. Projects such as the China-Laos Railway, Karakoram Highway II in Pakistan and China-Maldives Friendship Bridge in Maldives have been accelerated. The Tehran-Mashhad High-speed Rail in Iran and Port of Hambantota in Sri Lanka have been steadily constructed. The Chinese enterprises have constructed 75 overseas economic and trade cooperation zones in countries along the Belt and Road with accumulative investments of over US$27 billion. Almost 3,500 enterprises have been stationed in such zones, have paid taxes totaling US$2.2 billion to host countries, and have created 210,000 employment posts for local places. The China-Belarus Industrial Park, China-Malaysia "Two Countries, Twin Parks" project and Egypt's Suez Economic and Trade Cooperation Zone have all become cooperation models.
V. Jointly discuss the co-construction of free trade zones to accelerate regional integration. Signed free trade agreements with Georgia and Maldives and completed negotiations on upgraded free trade zones with ASEAN. Accelerated the negotiations on free trade agreements or on upgraded free trade agreements with countries such as Sri Lanka, Pakistan, Israel and Singapore, and promoted the achievement of active progress in the negotiations on the agreement on regional comprehensive economic partnership (RCEP).Substantively concluded the negotiations on the economic and trade cooperation agreement with the Eurasian Economic Union and launched the joint feasibility study on the Eurasian economic partnership agreement.
VI. Provide affordable aid to demonstrate China's responsibility. Carefully designed and fully launched the "Co-construction of the Aid Bridge for Smooth Belt and Road" action, implemented major aid initiatives and actively provided affordable aid for developing countries along the Belt and Road. Steadily promoted the construction of aid projects that help improve people's livelihood, help aid recipient countries enhance their capacity for independent development, promoted local economic development and social progress, and consolidated the basis of public opinions for the Belt and Road Initiative.
The 19th CPC National Congress has made a new deployment to promote the Belt and Road Initiative. We will thoroughly study and implement the spirit of the 19th CPC National Congress, take Xi Jinping's thought on socialism with Chinese characteristics as the guideline, be realistic and pragmatic, work hard and keep forging ahead, adhere to the principles of joint discussion, co-construction and sharing, actively promote international cooperation under the Belt and Road Initiative, strive to achieve policy coordination, facilities connectivity, unimpeded trade, financial integration and people-to-people bond, build a new platform for international cooperation and increase new impetus for common development, so as to make greater contribution to the construction of socialism with Chinese characteristics and the open world economic development in the new era.
Translated by Hou Zuowei
