Belt and Road trade ties deeper cooperation
Print Edition
CHINA is deepening cooperation with countries along the “One Belt, One Road” region as trade with them took up more than a quarter of the country’s total, the Ministry of Commerce said yesterday.
China’s exports to the Belt and Road region rose 2 percent from a year ago in the first five months of this year to US$243.95 billion, or 27.7 percent of the country’s total overseas shipments, the ministry said.
The pace exceeded China’s overall 0.8 percent growth in exports year on year during the same period.
But China’s imports from the region fell 23.2 percent year on year to US$154.43 billion, faster than the national overall decline of 17.2 percent.
“China is deepening cooperation with the ‘One Belt, One Road’ countries and has made positive progress in all aspects,” ministry spokesman Shen Danyang said.
The “One Belt, One Road” initiative refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, and was proposed in 2013 with the goal of reviving ancient trade routes between Asia and Europe. The network passes through more than 60 countries and regions, with a total population of 4.4 billion.
China is also in talks with the European Union on integrating the initiative into the EU’s 315-billion-euro (US$346 billion) strategic investment plan to boost Europe’s economy, Shen said.
Meanwhile, the value of construction projects China sealed with 59 of the countries in the first five months was nearly half of the total value of similar overseas projects Chinese firms inked during the same period.
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