On Belt & Road Initiative

President Xi said that the Belt and Road Initiative (BRI) aims to build a trade and infrastructure network, adding that joint building of the Belt and Road has opened up new space for the world’s economic growth.

Based on the principles of equality and mutual benefit, the BRI focuses on connectivity and practical cooperation to achieve win-win outcomes and common development.

The principle of extensive consultation, joint contribution and shared benefits should be upheld, President Xi said, and open, green and clean approaches should be adhered to.

The goals of high-standard, livelihood-improving and sustainable development should be achieved, according to President Xi.

China will work with other parties to promote a coalition of sustainable cities and an international coalition for green development under the Belt and Road Initiative, Xi said.

High-Quality Infrastructure under BRI

President Xi highlighted building infrastructure of high quality, sustainability, risk resilience, reasonable pricing, inclusiveness and accessibility under the BRI.

Calling infrastructure the cornerstone of connectivity and a bottleneck of development confronting many countries, President Xi said building infrastructure with such standards could help countries give full play to their advantages in resources and better integrate into the global supply, industry and value chains for interconnected development.

On People-to-People Connectivity

China will support 5,000 people from the innovation sector in Belt and Road countries in conducting exchanges, training programs and joint research over the next five years.

China will work with other participants of the Belt and Road Initiative to promote scientific and cultural exchanges, set up joint science labs, build science and technology parks, and promote the transfer of technologies, Xi said.

A total of 10,000 representatives of political parties, think tanks and non-governmental organisations from countries participating in the Belt and Road Initiative will be invited to China for exchanges in the next five years.

On Trade & Opening-Up

President Xi said that China will increase imports of goods and services on a larger scale, slash its negative list on imports and will negotiate and sign high-standard free trade agreements with more countries.

China will further lower its tariff rates and the country would continuously open up its market and welcome quality products from around the world.

China is also willing to import more competitive farm produces, finished products and services and will allow foreign investors to operate businesses in more sectors with controlling or full stake.

China Prohibits Forced Technology Transfer

China will step up protecting the legitimate rights and interests of foreign owners of intellectual property rights, and prohibit the forced transfer of technology, President Xi said.

It will create a business environment in which the value of knowledge is respected, President Xi said.