China has Signed 197 Cooperation documents on Belt & Road Construction with 137 Countries and 30 International organisations by the end of October 2019, Meng Wei, the Spokeswoman for the National Development and Reform Commission (NDRC), said at a Press Conference in Beijing.

Among those who signed the cooperation documents in terms of policy coordination of the Belt & Road Initiative (BRI) “are developing countries, developed countries, and companies and financial institutions of developed countries who cooperate with us to explore the third-party markets,” said Meng.

Spokeswoman Meng
Photo: Meng Wei, Spokeswoman for National Development and Reform Commission (NDRC).

In terms of facilities connectivity, projects of China-Laos Railway, China-Thailand Railway and Jakarta-Bandung High-Speed Railway are steadily carried out, and Gwadar Port and Piraeus Port projects are going on smoothly. Nearly 20,000 China-Europe freight trains had been operated by the end of October.

In terms of trade, China’s import and export with the Belt & Road countries totalled around 950 billion U.S. dollars, and non-financial direct investment to these countries exceeded 10 billion U.S. dollars in the first nine months of 2019

In the aspect of financial integration, China has signed currency swap agreements with more than 20 countries involved in the initiative and established renminbi clearing arrangements with seven countries.

China has also made progress in science and technology exchange, education cooperation, culture and tourism, green development and foreign aid, which promoted people-to-people connectivity with the Belt & Road Countries.

Policy, infrastructure, trade, finance and people-to-people ties are the five priority cooperation areas of the BRI, which was first proposed by Chinese President Xi Jinping in 2013, and aims to develop the Silk Road Economic Belt & 21st Century Maritime Silk Road with the intention of promoting economic cooperation among countries along the proposed routes.